TAROM budgets 135m-euro investment

TAROM (The Romanian National Air Transport Company) has budgeted investments worth 135 million euros for this year, four times bigger than last year, according to the company’s spending and revenue’s budget. The bulk of the money will go to the acquisition of two Airbus A318 aircraft. At the end of 2007 the company will receive the last two out of four A318 aircraft that were contracted in 2004, valued at 114.5 million dollars. The two aircraft are used for such destinations to Brussels, Frankfurt, Istanbul, Larnaca, Munich and Tel Aviv, according to information on the company’s website. Most of the company’s investments will be paid for with bank credits – 140 million RON (40 million euros), as well as with the company’s own funds – 33 million RON (9.4 million euros). The self-funded investment programme of TAROM will target several areas – construction and assembly works, imports, investments in various locations in Romania and major repairs for engines and aircraft.