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State aid to TAROM of over €95 million approved

According to a statement from the EU executive, the subsidies will allow the company to restore its long-term viability.

State aid to TAROM of over €95 million approved
Foto: gov.ro

Publicat: 29 Aprilie 2024, 20:35  • Actualizat: 30 Aprilie 2024, 09:04

The European Commission has given its approval for Romania's national air carrier TAROM to receive more than €95 million in state aid for restructuring.

According to a statement from the EU executive, the subsidies will allow the company to restore its long-term viability.

However, says the European Commission, in order to limit possible distortions of competition caused by the public support, TAROM will significantly reduce its number of routes and aircraft.

The measures provide for a debt write-off of more than €49 million, corresponding to the amount of rescue aid approved by the Commission in February 2020, and a capital injection of almost €46 million.

TAROM also has an own contribution to the restructuring plan of more than €77 million.

Translated by Radu Matei

SOURCE: Radio România Actualități

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