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Taromís 2010 losses hike 42 percent to EUR 80 million

National airline Tarom posted losses of just under EUR 80 million in 2010, 41.6 percent more than in 2009, according to official company data

July 2011 - From the Print Edition

The firm had revenues of nearly EUR 306 million in 2010 while its turnover rose to EUR 218.21 million. According to Gabriela Bordea, general manager of Tarom, the airline did not meet its forecast revenues because it was forced to slash fares to adapt to passengersí lower purchasing power.
Despite the poor figures, the airline saw a rise in passenger numbers, transporting 23.6 percent more customers in 2010 than the previous year, at nearly 2.2 million. The aviation industry posted an increase of only 9.45 percent, according to Taromís statement. The company had a total of 2,368 employees last year, 118 fewer than in 2009. This year, Taramís headcount is 2,307.
The airline was a subject of the la‑
test letter of intent between the Romanian Government and the International Monetary Fund (IMF) which called for the privatization of the company. So far, the Romanian authorities have decided to sell 20 percent of the national carrier on the stock exchange or to a strategic investor. By the end of the year, the authorities must assign private management to Tarom.

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