Romanian state airline Tarom performs worse than expected

State-owned airline Tarom has published on its website the financial report of 2015. It is the first time in the last years when the company publishes its financial results. These have been available so far only indirectly, via the data reported to the Finance Ministry or from the company’s budget program. Tarom recorded a loss of over EUR 6 million last year, according to the report. By comparison, the company’s losses totaled EUR 25 million in 2014. Tarom operated over 17,300 flights in 2015, down 6.3% compared to the planned number. The number of flight hours was also lower than expected. The number of passengers totaled 2.39 million. It was below the number expected for 2015, but above the number of passengers in 2014. The company’s turnover reached EUR 256 million last year, up from EUR 254 million in 2014. Tarom last recorded profit in 2007. editor@romania-insider.com