On November 5, 2026, an Airbus A321 with the Moldovan registration code ER-PAG landed in Istanbul, heralding the official launch of Polaris Aviation Group. In the following weeks, this new airline wants to connect Chișinău International Airport with major European cities such as Prague, Bologna, Verona, Milan, Rome, and Dublin. However, behind the cheerful announcements of new routes and fleet growth lies a complex narrative that has captured the attention of many in Moldova’s civil aviation sector. This story is filled with claims of political connections, unclear sources of funding, digital traces linked to online poker, and questionable corporate addresses.
A Rapid Flight to Certification
Founded on January 2, 2026, and registered under fiscal identification number 1025600076403, POLARIS AVIATION GROUP S.R.L. was established with a wide-ranging mandate that includes passenger and cargo air transport, aircraft maintenance, and even space transport services. Initially registered at an address in Chișinău’s Buiucani sector, the company moved its headquarters on May 13, 2026, to an office on Boulevard Dacia in the Botanica district.
Several promotional images on Polaris’ website appear to have been generated using artificial intelligence, while some sections remained incomplete as of publication.
On paper, the company is owned by three shareholders: Anatolie Damaschin, who holds a controlling 50% stake as the declared ultimate beneficial owner (UBO), Gicu Răducan with 25%, and Guram Gvedașvili also with 25%, serving as the registered company administrator.
Leading the operations as Chief Executive Officer and Accountable Manager is Gicu Răducan, a seasoned professional with ten years of experience in civil aviation and 13 years in the broader transport industry.
After receiving its first 220-seat Airbus A321 from Plovdiv, Bulgaria, on August 4, 2026, Polaris successfully completed technical evaluations and demonstration flights, earning its Air Operator Certificate (AOC) from the Civil Aviation Authority of Moldova on October 27, 2026.
The Shadow of Political Backing
Despite the airline’s rapid establishment, its arrival raised eyebrows across Moldova’s political landscape. Dragoș Galbur, leader of the National Moldovan Party, publicly claimed that the new airline was receiving hidden support from influential political figures, particularly former Prime Minister Dorin Recean, who is currently a special envoy to President Maia Sandu, and former Democratic Party minister Marcel Răducan.
Criticism grew as observers noted that CEO Gicu Răducan is the son of Marcel Răducan, leading to accusations that familial connections were being exploited to gain favorable treatment from the state and to navigate regulatory challenges.
In response, the accused parties quickly denied these allegations. Throughout June and July 2026, Polaris Aviation Group issued several official statements asserting that it had never sought or received preferential treatment, stressing that Dorin Recean had no stake, advisory role, or financial ties to the company. Recean himself firmly denied any involvement. During a television interview in August 2026, CEO Gicu Răducan emphasized,
“Polaris has absolutely no political ties. Absolutely none. It never had any. It doesn’t have any now. And it never will.”
Online Poker, Missing Histories and the Funding Gap
As political rumors swirled, investigative journalists and civic activists began to delve into the financial origins of the company. Launching an operational airline requires substantial liquid capital, leasing a single Airbus A321 can exceed $500,000 per month, initial security deposits typically average around $1 million, and preparing for an AOC can cost millions.
However, public registry checks revealed a puzzling background for the airline’s majority owner. Anatolie Damaschin, the 50% owner and UBO, had no documented history in aviation. His only previously registered business was TDM COM SRL, a small firm with minimal turnover unrelated to transport. Additionally, Damaschin had no public professional presence on platforms like LinkedIn or social media. Co-founder and administrator Guram Gvedașvili also lacked any verifiable business history in public records.
Investigative reports soon uncovered an intriguing digital footprint: an active profile under the name “Anatolie Damaschin” registered on an international online poker platform. About two weeks before media reports surfaced in July 2026, the full name was removed from the profile and could no longer be located in publicly accessible web archives.
Nevertheless, the account remained active under the username “TDM503,” a handle that closely resembles Damaschin’s previous company name, TDM COM SRL. Records from the platform indicated that “TDM503” had amassed approximately $11,000 in tournament winnings between August 2024 and October 2025.
Civic activist Vlad Bilețchi highlighted these findings, questioning how individual poker earnings of $11,000 and small business revenues could cover the multi-million-dollar funding gap necessary to acquire aircraft and launch routes from Chișinău International Airport.
During the preparation of this article, Aviation24news spoke by phone with CEO Gicu Răducan regarding questions about the airline’s funding. He stated:
“Who are you working for? Please send me an email with your questions, and I will provide the complete picture regarding the funding.”
Following that conversation, we sent Mr. Răducan a detailed list of questions by email. As of the time of publication, no further response had been received.
Phantom Offices and Regulatory Double Standards
Bilețchi’s investigation took a more tangible turn when he conducted on-site inspections of Polaris’s registered business addresses. At the company’s original legal address in Buiucani, the current homeowner confirmed he had purchased the property, had no knowledge of Polaris, and had contacted one of the founders to demand they cease listing his home as a corporate headquarters.
When Bilețchi attempted to visit the updated Botanica address, he encountered restricted access and could only speak briefly with an accountant, follow-up requests to meet with executive leadership went unanswered.
Journalists also pointed out a concerning regulatory double standard regarding state security checks. Competitor airline FlyOne had previously undergone an exhaustive 11-month review by the Council for the Examination of Investments of Importance for State Security (CEIISS) concerning its ownership structures and international transactions.
According to individuals familiar with the matter, Polaris quietly received a green light from CEIISS on the same day, as the decision about FlyOne was made. However, there are no public records indicating that Polaris faced similar CEIISS security reviews or anti-money laundering scrutiny by the Service for Prevention and Combating of Money Laundering (SPCSB) before obtaining its operator license.
Suspicion was further fueled by coincidental timelines: just seven days before CEIISS made a controversial ruling affecting FlyOne, former PM Dorin Recean was appointed to the Board of Directors of MoldATSA, the state enterprise responsible for Moldovan air traffic control, all while Polaris was undergoing its technical certification.
Navigating the European Skies
Polaris has successfully entered the market and launched commercial operations. Yet key questions remain unanswered publicly: who provided the capital behind the airline, how that financing was structured, and why the company’s approval process attracted significantly less public scrutiny than that of some competitors.
