Romanian state airline Tarom begins restructuring with aircraft sales, office closures

Romanian state-owned airline Tarom, which has been facing financial difficulties for many years, will reportedly sell four Airbus A318-111 aircraft and close ticket offices in several cities in its latest attempt at restructuring.

Tarom offices in Oradea, Iași, Constanța, Bucharest, Brașov, Botoșani, Baia Mare, Timișoara, Târgu Mureș, Suceava, Sibiu, and Satu Mare will be closed, according to data analyzed by Profit.ro.

The Airbus aircraft, purchased by Tarom between 2006 and 2007, will be sold to 3Top Aviation Services Limited, a UK-based company specializing in purchasing planes in the latter part of their operational life.

The closures and sales are part of the Tarom's ongoing attempt at regaining profitability. In August, the company sold its slots at Heathrow Airport London to Qatar Airways and claims it will have new routes only in 2026, due to the huge losses sustained over the past 7 years.

Back in the summer, the airline’s management stated in the budget review that the projected profit for this year is expected to partially cover losses from previous years. As a result, overdue payments are anticipated to decrease from RON 340 million in 2023 to an estimated RON 115 million by the end of 2024.

Tarom was founded in 1954 and operates under the authority of the Ministry of Transport, being a member of the SkyTeam Alliance since June 25, 2010. The airline operates a fleet of 18 aircraft and serves 70 destinations with its own aircraft or through its code-share partners. The state owns 97.2476% of the shares.

(Photo source: Tarom on Facebook)