Moldova’s Council for the Examination of Investments of Importance for State Security (CEIISS) has refused to approve investments made by airline company FLY ONE in a sector considered strategically important for national security.
The decision was adopted during a meeting on 22 June and includes the application of a change-of-control clause, which must be implemented within 90 days.
According to the council, the ruling followed an examination process that lasted nearly 11 months. During that period, authorities reviewed the company’s activities in a sector that relies on critical state infrastructure.
CEIISS said it repeatedly requested information and documents concerning the investment structure, beneficial owners, and financial transactions between FLY ONE and its affiliated company FLYONE Armenia. Following the review, authorities concluded that some of the requested information had not been provided in full.
The council also examined information relating to alleged links between individuals associated with the companies and persons subject to international sanctions. These elements formed part of the assessment that led to the decision.
According to CEIISS, the measure is intended to protect state security interests in a strategic sector and ensure compliance with legislation governing investments in sensitive industries.
At the same time, the council stressed that it has not ordered the suspension of the airline’s activities or revoked any operating permits. FLY ONE will continue to operate scheduled flights and fulfil its obligations to passengers, business partners, and other economic actors.
The authority emphasized that the decision concerns investment control issues only and does not, at this stage, affect the continuity of services provided by the airline.