The restructuring plan of TAROM, which includes state aid, is the company's last chance because legally we can no longer give them money, said the president of the Competition Council, Bogdan Chirițoiu, to AGERPRES on Thursday.
„There is a restructuring plan approved by the European Commission, but the money is national. If you want, this is the last chance for TAROM, because legally we can no longer give them money. So, this restructuring plan must lead TAROM to economic viability, but legally we are not allowed to give money after this rescue aid. The real TAROM hasn't made a profit since 2008. It sold some assets, but from its air transport activity, it hasn't made a profit since 2008. So, obviously, a company cannot go on losing money for 20 years in a row. That's why I'm saying now that it's the last chance for TAROM's restructuring. I hope it reaches viability, according to the restructuring plan. If not, alternatives will have to be found.” stated Chirițoiu, cited by Agerpres.
In his opinion, closing the company is an extreme case, although there have been instances where this has happened, but an investor or business partner can be found.
„Closing the company is an extreme case, but these things have happened in Bulgaria. Similar situations have occurred in Hungary. Other situations, if we look at Italy, for example, involve finding an investor or a business partner.”, he emphasized.
TAROM is implementing a restructuring plan approved by the European Commission, with clear deadlines, indicators, and commitments from the Romanian state until the end of 2026. The restructuring plan includes total aid of up to 95.3 million euros, involving debt write-offs and capital injection. Among the conditions imposed by the European Commission are the reduction of the fleet from 18 to 14 aircraft and a decrease in the number of routes to limit competitive distortions.
The president of the competition authority participated on Thursday in the „Future of Governance International” conference, an edition focused on one of the key themes of the moment: „The Great Governance Reset.”.
The event, now in its fifth edition and organized by Envisia – Boards of Elite, brought together leaders from the public and private sectors, board members, investors, and international experts for an applied discussion on how to rewrite governance rules in a context marked by uncertainty, technology, and systemic changes.
Directions addressed this year included: how to rebuild institutional legitimacy; what crisis-ready governance means; how to maintain human control in an AI-influenced world; the role of new generations in decision-making structures.