However, the airline has yet to prepare its revised restructuring plan, which Romania hopes to submit to the European Commission by the end of December. The government is seeking an extension of the restructuring deadline, without increasing the volume of state aid already approved.
Under the current terms, Tarom was expected to become profitable this year; otherwise, it would have to repay the state aid.
The passengers’ negative sentiment is also affected by two private Romanian airlines, Animawings and Dan Air, becoming insolvent after their predecessor Blue Air collapsed several years ago. The entire international aviation industry came under strain, actually, with the high and scarce fuel supplies.
“There are big plans for the company,” Anghel assured in an interview with Antena 3.
He confirmed that Tarom received two state-of-the-art Boeing MAX aircraft in September and October. Two more aircraft are due to be delivered in April 2027.
The Romanian government has to make Tarom profitable without injecting more public money, meaning it must attract private capital in one way or another. The company has not generated a profit from its core activity since 2008.
“Tarom has not had a profit really since 2008. It sold some assets, but from the air transport activity, it has not made a profit since 2008. So, obviously, a company cannot go on losing money for 20 years in a row. That is why I am now saying that it is the last chance for the restructuring of Tarom. I hope it will reach viability, according to the restructuring plan. If not, alternatives will have to be found,” said Competition Council president Bogdan Chirițoiu earlier in May.
Tarom drafted its budget for this year with a profit in mind, but factors including adverse market conditions, particularly high fuel prices, pushed the company back into losses. The political turmoil complicated the drafting of a new plan, as it necessarily involves private investors.
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