Romania to tell European Commission TAROM will fast-track overdue restructuring measures, says Miruta
Romania will notify the European Commission within three days that state-owned airline TAROM will accelerate implementation of commitments under its restructuring plan after failing to meet agreed obligations, interim Transport Minister Radu Miruta said on Friday.
TAROM received substantial state aid under a restructuring plan covering 2024-2026, but the company failed to implement measures it had proposed and did not fulfil the commitments it had undertaken, Miruta said in a Facebook post following a meeting with the airline's management.
Under the current restructuring framework, the airline would have to repay all state aid received by the end of 2026 if the plan fails to demonstrate the company's long-term viability, which 'in its current form, it does not,' the minister said.
Miruta said the government would notify the European Commission within three days that measures TAROM had been due to complete by June 1 would now be implemented on an accelerated timetable.
He added that the government would present a proposal for TAROM's future within six weeks and request a meeting with the European Commission to discuss it. By mid-September, the ministry intends to submit what he described as an 'honest' restructuring plan based on realistic financial data, secure revenues and lower costs.
According to the minister, TAROM's new management has already restarted work on revising the airline's budget using what he called realistic financial assumptions. AGERPRES (RO - writing by: Oana Tilica; EN - writing by: Simona Iacob)
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