Romanian state-owned airline Tarom estimates that it will record losses of RON 41.2 million (EUR 9 million) this year, down 12.3% compared to the previous year, according to the budget proposal published by the majority stakeholder, the Transport Ministry.

It would be the 10th year in a row when the airline records losses. The company last recorded profit in 2007. Last year, it reported losses of EUR 11.1 million due to lower revenues.

Tarom estimates total revenues of RON 1.32 billion (EUR 290 million) for this year, up 6.4% over the previous year. The company expects to reach 2,067 employees at the end of the year, compared to 1,841 employees at the end of 2016.

At the end of May, transport minister Razvan Cuc said that the airline would not post a loss this year.

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editor@romania-insider.com