newstodate.aero

Apr 30, 2024 (newstodate): The EU Commission has given its approval of Romania's plans to grant the Romanian state-owned carrier TAROM restructuring state aid for up to EUR 95.3 million.
   -The Romanian restructuring aid approved will help maintain regional connectivity of Romanian citizens and businesses. Following our in-depth investigation, we concluded that TAROM's restructuring plan will ensure that the airline becomes viable in the long term, says Margrethe Vestager, EU Commission Exec VP in charge of competition policy,
   -To limit any possible competition distortions triggered by the public support, TAROM will significantly downsize its number of routes and aircraft.
   The restructuring plan also envisages a deep cut by 33 percent in staff roster, optimization of the airline's route network, the write-off of a significant debts pile as well as a renewal of its aging fleet.