Romaero also reported loss of RON5.5 million in the first three months of 2013, after a mere profit of around RON50,000 in the same period in 2012.
The company’s expenses rose 18% to RON26.2 million in the analyzed period, from RON22.1 million in the first three months of 2012, according to a financial report submitted to the Bucharest Stock Exchange.
In January through March, Romaero registered a turnover of RON15.8 million, 27% lower from RON21.9 million a year before.
Romanian Economy Ministry holds a 51.9% stake in Romaero, while investment funds SIF Muntenia (SIF4.RO) and Fondul Proprietatea own stakes of 25.85% and 21% respectively.
Early June, Economy Minister Varujan Vosganian said Romania will set off the privatization procedures for Romaero.
On the Bucharest bourse Tuesday, Romaero closed up 2.9% at RON16.99 a share. (EUR1=RON4.4391)