PRELIMINARY SCREEN MARKET

Moldova is recovering from a recession, but growth is slow. After a recession in the
second half of 2015, the economy grew at 1.3 percent year-on-year in the first half of 2016.
Private consumption rebounded by 2.2 percent, partly supported by government transfers to
households, while change in inventories added 4 percentage points (p.p.) to growth.
Meanwhile, net exports subtracted 3 p.p. from growth due to weak external demand and
stabilization of the exchange rate. Fixed investments continued to decline, by 6.7 percent, as
real interest rates were high and public investment low. Consumer inflation is decelerating,
allowing the National Bank to ease the monetary stance. With the dissipation of the pass-
through effect from the depreciation, due to weaker internal demand, lower import prices and
good agricultural yield, 12-month inflation has slowed from a peak of 13.6 percent in
December 2015 to 3.6 percent in August 2016. In response, the NBM sharply reduced the
base interest rate from a peak of 19.5 percent in September 2015 to 10 percent since July
2016.
The external position slightly improved due to lower imports. Lower import commodity
prices and weak domestic demand compensated for the reduction in remittances, so that the
current account deficit narrowed to 6.4 percent of GDP in the first half of 2016, 2.7 p. p.
lower than last year. As a result, foreign reserves have grown to more than 5 months of
imports.
Public finances are under pressure due to delays with external funding. The 2016 state
budget law was adopted only in July, and it relies heavily on external support (from the EU,
World Bank, Romania) to finance the planned deficit of 3.2 percent of GDP. In January-July,
with low external financing available, spending decreased 8.3 percent in real terms, as most
of the procurement and capital expenditure were stopped. The deficit was only 1 percent of
GDP over the first seven months of 2016. The poverty rates increased less than expected in
2015. The moderate poverty rate (5 USD/day, 2005 PPP) slightly increased to 41 percent in
2015. In the first quarter of 2016, however, the unemployment rate remained high,
compounding the impact of high inflation and lower remittances on poverty. These effects
have been partly offset by a decrease in food prices over the summer due to a good year in
agriculture and by the indexation of pensions in April 2016.

1
 Source : MOLDOVA Economic Update October 5, 2016

INDICATOR LAST DATE

Retail Sales: Y-o-Y Growth -1.80 2016-09

Foreign Direct Investment: % of Nominal GDP 0.22 2016-06

Foreign Direct Investment: % of Nominal GDP 4.20 2015-12

Total Imports: Y-o-Y Growth 7.14 2016-09

Total Imports: Y-o-Y Growth 5.10 2016-09

Total Imports: Y-o-Y Growth -25.02 2015-12

Long Term Interest Rate 6.00 2016-11

Total Exports: Y-o-Y Growth 18.55 2016-09

Total Exports: Y-o-Y Growth 15.92 2016-09

Total Exports: Y-o-Y Growth -15.93 2015-12

Consumer Price Index: Y-o-Y Growth 2.52 2016-10

Real GDP: Y-o-Y Growth 1.80 2016-06

Real GDP: Y-o-Y Growth -0.75 2015-12

2
 INDICATOR LAST DATE

Nominal GDP: USD mn 6454.91 2015-12

Short Term Interest Rate 14.98 2016-11

List of airdrome operators certified by CAA RM in accordance with RAC-CAO:

Certificate
Provided
Operators Address
services
No Issued Valid

MD-2026, Republica
Airdrome
S.R.L. "Avia Invest" Moldova, mun. Chisinau, 05 31.10.2013 28.02.2017
operator
Aeroport, bd. Dacia 80/3

14.10.2015
MD-3100 Republica Note: CAO was temporary
Airdrome
.S. "Moldaeroservice" Moldova, Balti str. 02 05.10.2012 suspend on the base of
operator
Aerodromului 12 Aeroport Operators
application

.. "Aeroportul MD-5028 Republica

Airdrome
Internaional Moldova, r-ul Floreti, s. 04 11.12.2012 17.12.2016
operator
Mrculeti" Lunga
List of Ground Handling organizations, certified by CAA RM in accordance with RAC-HOC:

Certificate
Organisations Address Provided services
No Issued Valid

MD-2001, str.Tighina Rendering services in

S.C. "Dufremol"
12, mun. Chisinau, security restricted area (Duty - 004 20.11.2012 22.11.2017
S.R.L.
Republica Moldova free)

MD-2026, Republica cargo and post

Moldova, mun. officemail
S.R.L. "Avia Invest" 026 31.10.2013 31.10.2017
Chisinau, bd. Dacia ramp servicing
80/3 surface transport

MD-2012, Republica
"LUKoil-Moldova" Moldova, mun.
fuel and oil 011 18.03.2013 20.03.2017
S.R.L. Chisinau, str. Columna
92

"Aeroport Catering" MD-2026, Republica catering services 014 30.10.2012 04.11.2017

S.A. Moldova, mun.
Chisinau, bd. Dacia

3
 Certificate
Organisations Address Provided services
No Issued Valid

80/3

representation and
accommodation
load control,
communication and departure
MD-2026, Republicii
control system
"Aeroport Moldova, mun.
passengers and baggage 030 04.06.2015 04.06.2017
Handling" S.R.L. Chiinu, bd. Dacia
cargo and post
80/3
officemail
ramp
aircraft servicing
surface transport

MD-2026, str.Aeroport catering services

"Logistic INT"
110, mun. Chisinau, (without transportation to/from 027 30.09.2014 29.09.2017
S.R.L.
Republica Moldova aircraft bord)

representation and
accommodation
load control,
communication and departure
MD-2001, str. Ismail
".C.S. MGH control system
33, birou 607, mun.
Ground Handling" passengers and baggage 032 12.09.2012 30.09.2017
Chiinu, Republicii
S.R.L. cargo and post
Moldova
officemail
ramp servicing
aircraft servicing
surface transport

Representation and
accommodation
Load control,
communication and departure
control system
MD-5028, Republica
"Aim Handling" Cargo and post office
Moldova, r-l. Floreti, s. 023 26.12.2012 26.12.2016
S.R.L. mail - Limitation - without
Lunga
operations with dangerous goods
Ramp
Aircraft servicing
Fuel and oil
Surface transport

.S. CA "Air MD-2026, Republica catering services 024 28.02.2013 27.02.2017

4
 Certificate
Organisations Address Provided services
No Issued Valid

Moldova, mun.
Moldova" Chisinau, bd. Dacia
80/2

MD-2068, Republica
Rendering services in
Prottera Grup Moldova, mun.
security restricted area 025 24.05.2013 23.05.2017
S.R.L. Chiinu, str. Alecu
(cleaning)
Russo, 2

MD-2026, bd. Dacia

80/3, Republica rendering services in
"Aerofood" S.R.L. 028 08.10.2014 07.10.2017
Moldova, mun. security restricted area (Bar)
Chisinau

Chiinu International Airport (IATA KIV, ICAO: LUKK) is Moldova's main international
airport, located 13 km (8.1 mi) southeast of the centre of Chiinu, the Moldova's capital.

Hub for : Air Moldova, Moldovian Airlines, Tandem Aero.

Member of ALFA ACI (Lassociation des Aeroports de Langue Francaise Associes a lAeroports
Council International).

CHIINU INTERNATIONAL AIRPORT TRAFFIC

5
 Aircraft Cargo
Year Passengers (total) Change Change
movements (total) (tonnes)

2000 254,178 N/A 9,521 N/A 2,400

2001 274,662 8% 9,866 3.6% 1,700

2002 296,431 7.9% 10,416 5.5% 1,300

2003 341,695 15.2% 9,502 8.7% 1,300

2004 421,011 23.2% 10,759 13.2% 1,400

2005 482,741 14.6% 11,126 3.4% 1,700

2006 548,331 13.5% 10,065 9.5% 1,800

2007 688,782 25.6% 11,623 15.4% 2,300

2008 847,881 23% 12,371 3.2% 2,400

2009 809,072 4.5% 11,862 4.1% 2,021

2010 937,037 15.8% 13,241 11.3% 2,400

2011 1,045,975 11.6% 14,429 9.2% 2,700

2012 1,220,114 16.6% 16,113 7.3% 2,800

2013 1,320,501 8.2% 17,555 8.9% 2,177

2014 1,781,169 34.9% 19,756 12.5% N/A

2015 2,219,162 24.6% 22,468 13.7% N/A

6
7
AUTHORISED HANDLING AGENT

Aeroport Handling SRL

bd. Dacia, 80/3
MD2026 Chisinau, Municipiul Chisinau
Moldova

Licence 04.05.2015- 04.06.2017

Founded 2015
Capital 115.250 USD
Website http://www.handling.md

We collaborate with the following airline companies: Air Moldova, Wizz Air, Aeroflot, FlyOne,
LOT Polish Airlines, Ukraine International Airlines, Turkish Airlines, Tarom, Sibiri
Airlines, Lufthansa , Austrian Airlines, AtlasGlobal, Tandem Aero

Contacts: ; +373 22 811 505; +373 78 880 821

Manager Mr Arcadie Ciochina Director

MGH Ground Handling SRL CS

bd. Dacia, 80/3
MD2026 Chisinau, Municipiul Chisinau
Moldova
Licence 12.09.2012-30.09.2017
Founded 2012
Capital 833.660 USD
Website http://www.mghandling.com

MGH Ground Handling offers 24 hours, a wide range of ground handling services at International
Airport Chisinau for both Schedule Aviation and General Aviation

Turkish Airline Volotea airBaltic Aegean Airlines

Carpatair Meridiana fly Air Italy Air Link International

Manager Mr Anatolie Bzovii Administrator

8
"Aeroport Catering" S.A.
MD-2026, Republica Moldova, mun. Chisinau, bd. Dacia 80/3
LICEN 30.10.2012- 04.11.2017
Founded 2003
Capital 487.500 USD
Website http://www.aircatering.md
Catering

Manager Ms Elena Ciobanu Director

"Logistic INT" S.R.L.

MD-2026, str.Aeroport 110, mun. Chisinau, Republica Moldova
Licence 30.09.2014- 29.09.2017
Catering

Prottera Grup S.R.L.

MD-2068, Republica Moldova, mun. Chiinu, str. Alecu Russo, 2
Licence 24.05.2013- 23.05.2017

Anul infiintarii 2011

Website http://www.terragroup.md
Cleaning

Manager Mr Ivan Mirovski Administrator