Tarom CEO Christian Heinzmann said in a press release Monday the company’s measures have helped increase revenue and lower costs and the company expects better results starting with the second quarter and is confident it will reach its targets for this year.
In the first quarter of 2012, Tarom posted a loss of RON64 million and its 2011 loss stood at RON236 million.
Tarom launched a voluntary layoff plan for its employees in March aiming to cut staff numbers by 10% by the end of the year.
The company’s management plan approved in March this year sees losses of RON143 million in 2013 and RON18 million in 2014. For 2015 and 2016, it forecasts profit of RON92 million and RON173 million, respectively.
Tarom last reported profit in 2007 and its losses amounted to RON830 million between 2008 and 2011. (EUR1=RON4.3552)