In early March, Nazare asked Tarom to renegotiate the handling contract in two weeks with a view to reducing its costs.
“Tarom and Globe Ground are set to carry out by the end of the year joint projects aimed to extend the customer base and programs meant to enhance joint operations and reduce operating costs for ground services,” Tarom said in a press release Wednesday.
Globe Ground Romania is owned by Tarom (37%), the Bucharest National Airport Company (13%), Servisair (25%) and Balaclava (25%). In 2010, the firm registered turnover of 75.66 million lei (EUR17.29 million) and a gross profit of RON19.27 million.
Tarom has also saved EUR660,000 annually after having renegotiated the catering services contract with Alpha Rocas. Alpha Rocas posted profit of RON15.97 million and turnover of RON77.14 million in 2010, according to Finance Ministry data.
Tarom cut losses by 24.16% in 2011 to RON252.18 million from RON332.5 million in 2010. Tarom registered profit until 2008, when it reported losses of RON6.31 million. The airline estimated losses of RON187.24 million in 2012, of RON122.29 million in 2013 and RON60.58 million in 2014.
Tarom is on the list of state companies monitored by the International Monetary Fund. A World Bank survey released at the end of 2011 showed that one quarter of the 154 monitored Romanian state-owned enterprises have incurred losses of as much as hundreds of thousands of lei per employee.
The survey also lists Tarom with losses of RON163,000 per employee. (EUR1=RON4.3754)