Romanian airline Tarom manages to cut losses to half

Romania’s state-owned airline Tarom estimates it will reduce its losses to EUR 10.8 million this year. The company recorded losses of EUR 24.4 million last year. The airline is also considering reducing staff, but the decision will only be made next year, reports local Mediafax. Tarom currently has about 2,000 employees. The company has recorded more flights this year compared to 2014 and has thus reduced costs. “In aviation, the more you fly, the lower the costs,” said Christian Heinzmann, Tarom general director. The drop in fuel prices also helped the company reduce its operational costs. Tarom estimates an operational profit (EBITDA) of EUR 12.5 million for this year, as the turnover will reach EUR 300 million. In 2011, the airline saw losses of EUR 57.7 million. editor@romania-insider.com