Competition Council President Bohdan Chiritsou said on Tuesday that he expects the European Commission to approve Tarom’s state aid soon. “We expect Tarom to break even in the next 2 years and become profitable again in 2026,” Chiritsou said.
- “The bailout money was so that Tarom would not perish in the pandemic, and now it receives new money for restructuring, for the purchase of aircraft and return of profits. From the discussions with the European Commission, we expect that the state aid will be approved in the coming months,” Bohdan Chiritsoyu said.
The European Commission has launched an in-depth investigation in the summer of 2021 to assess whether support measures granted by Romanian authorities to TAROM airline comply with EU rules on state aid to companies in difficulty, the European executive announced on Monday.
TAROM, the Romanian state airline, has been facing financial difficulties for years. TAROM received a temporary rescue loan of approximately €36.7 million from the Romanian state following approval by the Commission under EU state aid rules in February 2020.
According to the press release of the European Commission, on May 28, 2021, the Romanian authorities informed the Commission about the restructuring plan of the TAROM company.
Source: Hot News
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