Air Moldova suspends all flights and ticket sales operations starting May 2, after the company filed for “accelerated restructuring” in a bid to avoid bankruptcy. The airline says it will resume its operations within three days of the court’s decision.

According to a press release from Air Moldova, the request submitted to the court represents an action plan aimed at avoiding bankruptcy, solving existing problems and accepting investments, including foreign ones. The airline claims that investors are ready to invest around $50 million, money that would get Air Moldova through its financial issues and help it renew its fleet.

Air Moldova blames its current situation on the administration prior to the airline’s privatization in 2018 “which was marked by abuse of power, money laundering and faulty management to the detriment of the company”.

The COVID-19 pandemic, the Ukraine war, the loss of key destinations and the withdrawal of aircraft by lessors have also been some of the contributing factors.

Moreover, the airline suggests that it has been the victim of a “political vendetta” exacted by the current government because of the company’s supposed affiliation with the fugitive politician Ilan Shor.