Investments from the company’s own sources have been reduced by 80% from the initial value, down RON15.34 million from RON78.97 million.
Revenue is 3.5% lower, now at RON1.65 billion, from RON1.71 billion, while expenses are 7% lower, at RON1.59 billion, from RON1.71 billion. Therefore, the revised budget provides profit of RON53.56 million. In the budget’s initial version, revenue was equal to expenses.
Last year, Tarom posted RON332.48 million (EUR80 million) in losses, up 41.6% from 2009, when the airline posted RON234.69 million in losses.
In 2010, Tarom carried 2.2 million passengers, 24% more than in the previous year.
Tarom is among the companies monitored through the agreement with the IMF. The company will have private management and the state has committed to selling 20% of its stock.
(EUR1=RON4.2657)