Guernsey-based real estate development firm NR Investments has agreed to purchase a 95% stake in Moldova’s Chisinau International Airport operator Avia Invest.

Chisinau Airport is the largest and sole international airport in Moldova.

NR Investments beneficiary Nat Rothschild has signed the agreement with Avia Invest representatives.

Avia Invest took over the operations and management of the Chisinau International Airport under a private-public partnership model in November 2013.

They agreed to manage the airport for a period of 49 years.

The concessionaire additionally agreed to spend approximately €250m ($277m) on upgrading the airport and its various facilities, which included a new smart passenger terminal, runway, apron upgrade and multi-level car park.

Work was also carried out by Avia Invest to popularise the airport in the international market due to its location near the Asian-European border.

Located just 13km from the capital, the airport is the main gateway for flights to the Republic of Moldova.

16 passenger carriers currently operate from the airport, connecting 38 destinations such as London, Dublin, Paris, Istanbul and Moscow.

Chisinau Airport managed 2.8 million passengers last year, a 14.8% cumulative annual increase since 2010. Passenger traffic at the airport is likely to exceed three million in 2019.

Last year, Chisinau Airport selected ACTIU to install passport benches that were developed to provide more comfort to passengers in the waiting areas.