Romaero Bucuresti, with a RON127.8 million market capitalization, is 56.7% owned by the Romanian State, through the Economy Ministry, 23.2% held by regional investment fund SIF Muntenia and 18.95 owned by Fondul Proprietatea.
“Approving the restructuring plan of budget debts of the company ROMAERO SA, drafted by independent expert CITR in accordance with Government Ordinance no. 6 of July 31, 2019 on establishing fiscal facilities”, as per a stock market report.
The company’s report regarding the financial results for the first half of 2019 mentions that the main operating expense that burdens the company’s result results, without being associated with the current activity, is represented by accessory costs of historic budget debts amassed in the last ten years.
“The value of accessory costs reached nearly RON19.6 million in 2018, and exceeded RON11.7 million in the first half of 2019, with the value for 2019 may reach nearly RON20 million unless efficient measures to extinguish historic debts (for instance, state aid specific to the defence industry, the takeover of surplus assets in exchange for some debts, the capitalization of other surplus assets etc.) are taken by the management bodies with attributions in this respect, under the law (Shareholder General Meeting) and/or by tax regulator ANAF”, according to the financial report for the first half of 2019.