In 2012, the company posted a loss of RON46.6 million.

Romaero said revenues rose 7% on the year to RON99.6 million in 2013, while costs dropped 14% to RON119.4million.

Sales were flat at some RON66 million, the company said in its financial report.

Romaero is 51.9%-owned by the Economy Ministry. Investments funds SIF Muntenia (SIF4.RO) and Fondul Proprietatea (FP.RO) hold stakes of 25.8% and 21%, respectively.

On the Bucharest bourse April 14, Romaero closed flat at RON14 a share, valuing the company at RON87.4 million. (EUR1=RON4.434)

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