DUSHANBE, 14.03.2026 (NIAT Khovar) – Shohin Airlines and the European Investment Fund “CFC s.r.o., osoba rizikoveho kapitalu” have finalized a strategic partnership aimed at the development of civil aviation in Tajikistan.

The final stage of negotiations took place at the Shohin Airlines office in Dushanbe between CEO Zafar Ahmadzoda and the fund’s founder Guntars Selikovs.

The parties discussed prospects for long-term cooperation and investment, noting that recent upgrades of Tajikistan’s credit rating by Moody’s and S&P Global Ratings have strengthened investor confidence in the country’s economic stability.

As a result of the discussions, a five-year strategic investment agreement was signed, with a total investment exceeding USD 200 million. The funds will be used to expand the airline’s fleet, improve operational capabilities, and strengthen its infrastructure.

“Signing this agreement marks an important milestone in the development of Shohin Airlines. The attraction of long-term capital will enable us to accelerate fleet expansion, broaden our route network, and support the sustainable growth of civil aviation in Tajikistan,” said CEO Ahmadzoda.

Selikovs added: “Over the past six months, we conducted detailed evaluations and held meetings in Dubai and across Europe to study Shohin Airlines’ business model, management team, and market potential. We consider the fleet expansion project strategically significant. Data from Moody’s and S&P Global Ratings confirm that Tajikistan is on a stable growth path, and we are confident in the successful implementation of this investment.”

Shohin Airlines is a newly established private airline registered in Tajikistan, focused on developing national civil aviation and regional and international air transportation. Currently operating helicopters for specialized missions, the airline plans to expand its fleet soon with the L-410 NG, a modern Czech turboprop passenger aircraft produced by Aircraft Industries, a.s., which will enhance regional passenger transport capabilities. The company is also exploring commercial passenger, cargo, and business aviation opportunities in Tajikistan.

The European Investment Fund “CFC s.r.o., osoba rizikoveho kapitalu,” registered in the Czech Republic, operates across European capital markets, the Gulf region, and Central Asia. Its investment strategy targets infrastructure and technology projects in high-growth developing economies, with priority areas including aviation, logistics, renewable energy, and artificial intelligence solutions. The fund’s headquarters are in Prague, and its current investment capacity is approximately EUR 500 million.