The entire board of Romanian state – controlled airline Tarom resigned on Wednesday, March 4, soon after approving the 2015 budget. Gabriel Dumitrascu, Tarom’s president of the board, also resigned, he told Hotnews.ro. He said none of the board members was pressured into resigning.

“We wanted to show the company can become efficient without layoffs,” he said, quoted by Hotnews.ro.  The 2015 budget features a EUR 2 million loss, down from the EUR 27 million loss in 2014. “Should oil prices keep the same level, Tarom could even post a small profit,” said Dumitrascu.

Just before the mass resignation, the board created a new position, that of Deputy GM, who will take over many of the current GM’s responsibility. Tarom’s currently run by expat Christian Heinzmann. His salary was recently cut, from EUR 23,000, to EUR 5,000. The new decision also takes away some of his prerogatives.

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editor@romania-insider.com