“The Romanian national air transportation company, TAROM, continues implementation of restructuring plan and one of the goals is the sale of the slots on the Heathrow Airport in London to Qatar Airways. This strategic deal, scheduled to be completed on October 26, 2024, represents a necessary step to ensure economic sustainability of the company,” the airline said in a statement.
“TAROM’s restructuring plan includes essential steps to cut losses, pay debt, stabilize the company and bring it to a profitability and economic health area, thus ensuring a sustainable future.”
The steps, the airline said, include selling some assets that would help it meet the economic viability indicators, such as take-off and landing slots on the Heathrow Airport.
“The decision to capitalize on the take-off and landing slots at Heathrow Airport was made after a detailed analysis of the operating conditions and their economic impact on the company. The step was taken as TAROM has to operate two flights a day, all year round, regardless of load factor or season, with no possibility to adjust the frequency or flight schedule. This assessment took into account the context in which the majority of Romanian passengers prefer low-cost flights operated at other, more affordable London airports, at a time when the flows of low-cost passengers are no longer concentrated only in the capital of England, but are divided between cities connecting various cities in our country with smaller cities in England, through direct flights, at airports that are not connecting, such as Heathrow, and which have much lower costs,” the airline said.
The company managed to sell the slots on the only airport where it is possible to trade them, Heathrow, to Qatar Airways and the deal allows it to continue investment and meet the targets in the plan to revitalize TAROM, its CEO Costin Iordache told the media in a briefing on Tuesday.
(English version by Loredana Fratila-Cristescu)