European Investment Fund Commits Over $200 Million to Tajik Airline

The European investment fund CFC s.r.o. plans to invest more than $200 million in the development of Tajikistan’s private carrier Shohin Airlines. The five-year agreement follows several months of negotiations between the parties. According to Shohin Airlines, the final round of talks took place on March 10, 2026, in Dushanbe. The meeting was attended by the airline’s chief executive officer, Zafar Ahmadzoda, and the founder of CFC s.r.o., Guntars Selikovs. One factor influencing the investor’s decision was the recent improvement in Tajikistan’s sovereign credit ratings by the international agencies Moody’s and S&P Global Ratings. This development has increased foreign partners’ confidence in the country’s economic stability. The parties agreed that the investment will be directed toward expanding the airline’s fleet, developing operational capacity, and modernizing infrastructure. “The signing of the investment agreement is an important milestone in Shohin Airlines’ development,” Ahmadzoda said, noting that the deal is expected to accelerate the company’s growth and expand its route network. Selikovs stated that negotiations lasted more than six months and included meetings in Dubai and several European countries. “This allowed us to thoroughly assess the company’s business model and market potential,” he said. Shohin Airlines is a private carrier focused on developing regional aviation in Tajikistan and neighboring markets. At present, the company operates specialized helicopter flights. The next stage of development will involve fleet expansion. In the near future, the airline plans to acquire an L-410 NG, a Czech-made turboprop aircraft designed for regional transport. CFC s.r.o., a fund registered in the Czech Republic, operates across markets in Europe, the Persian Gulf, and Central Asia. Its investment strategy focuses on fast-growing industries. The agreement with Shohin Airlines could become one of the largest private investments in Tajikistan’s aviation sector in recent years and may signal growing interest among international investors in the country.