The government approved on Wednesday the sale of the minority stake in the airline via an initial public offering on the Bucharest Stock Exchange and mandated the ministry to start the privatization procedures.
The exact date for the sale will be announced at a later time, depending on market conditions, the government said in a statement.
Tarom is one of the 18 state-owned companies monitored by the IMF under a EUR3.5 billion precautionary deal signed earlier this year.
The company reported a loss of 332.5 million lei (EUR80 million) in 2010, wider from RON235 million a year earlier.