Romanian state-owned airline Tarom sees EUR 38 mln losses in 2017

Romania’s state airline Tarom recorded losses of RON 172 million (EUR 38 million) in 2017, as the company changed five general managers, local Economica.net reported. Last year was the tenth consecutive year when Tarom recorded loses.The negative result was over three times higher than in 2016 when the company saw losses of RON 47 million (some EUR 10 million). The company’s revenues also declined last year by some 4.5%, to RON 1.025 billion (EUR 220 million). Tarom carried some 2.35 million passengers last year, ranking fourth among the airlines operating in Romania, behind low-cost operators Wizz Air, Blue Air and Ryanair. The company’s new management has implemented several recovery measures such as leasing two Boeing B737-800 aircraft and launching several new domestic and international routes. Romanian state-owned airline Tarom launches new routes in July editor@romania-insider.com