Komaksavia’s claim against Moldova over the concession procedures of Chisinau International Airport was rejected by the Svea Court of Appeal in Stockholm, Sweden, on February 14, 2025, according to the Ministry of Justice. The company had requested the higher court to annul the decision made on August 3, 2022, by the Arbitration Tribunal of the Stockholm Chamber of Commerce, but the court denied the request.
The Svea Court of Appeal fully supported Moldova’s position. As a result, Komaksavia must pay Moldova’s legal costs, totaling €105,000 and $10,000, plus interest.
“This ruling represents a significant victory for the Republic of Moldova, showing that the state acted in line with the rule of law and its international obligations,” stated the Ministry of Justice officials.
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The dispute began in May 2020, when Komaksavia initiated arbitration against Moldova, claiming that the state had interfered illegally and discriminatorily in its investment. In May 2022, the arbitration tribunal rejected the claim, citing lack of jurisdiction. Komaksavia then challenged the decision at the Svea Court of Appeal in Sweden.
The August 3, 2022, ruling from Stockholm’s judges stated that the company had not made a protected investment as defined by the agreements between Moldova and Cyprus, the country where the company owning Avia Invest, the former concessionaire of Chisinau International Airport, is based.
The judges highlighted that the transfer of 95% of Avia Invest’s shares to Komaksavia did not qualify as a protected investment, and the company failed to prove it made a contribution or assumed a real economic risk.