Romanian flagship carrier Tarom posts 20m-euro losses

State-held Tarom, the largest airline operator on the Romanian
market, ended last year with losses estimated at 21 million euros,
and with almost 100 million-euro lower revenues than initially
provided for. “The main factor that precluded us from achieving our
objectives was the financial crisis, which affected the aeronautics
industry worldwide, and the Romanian one in particular. The
progression of the aeronautical industry is tightly connected to
the progression of the gross domestic product, and reflects foreign
direct investment in Romania,” said company representatives.
According to preliminary data provided by the state-held company,
Tarom ended last year with revenues estimated at 1.1 billion RON
(260 million euros), 413 million RON (96 million euros) less than
the revenues budgeted at the beginning of last year.