The management plan, approved by the company’s managing board in March 2013, envisaged losses of RON143 million (EUR32.5 million) last year, RON18 million (EUR4 million) this year, with the company set to generate profit in 2015 and 2016.
As regards revenue, Tarom ended 2013 with EUR247 million, up just 3.5% from the previous year, according to Finance Ministry data.
However, the team of private managers did not succeed in hitting the target related to passenger traffic growth. In 2013, the company transported 2.1 million passengers, from 2.19 million persons in 2012, though its executive management had targeted 2.3 million passengers.
Tarom was the first state-owned company placed under private management, in November 2012, but the change caused turmoil at the company. Christian Heinzmann fills the position of general manager of the company, and gets a net salary of EUR10,000 per month.
In the 2008-2013 period, Tarom piled up losses of EUR280 million and lost the leading position on the Romanian air transport market.
(English version by Catalina Apostoiu)