The European Commission has opened an in-depth investigation to assess whether Romanian support measures in favour of the airline TAROM would be in line with EU rules on State aid to companies in difficulty.
TAROM, a Romanian state-owned flag carrier, has been experiencing financial difficulties for years. TAROM has received a temporary rescue loan from Romania of approximately €36.7 million, after approval by the Commission under EU State aid rules in February 2020. On 28 May 2021, Romania notified to the Commission a plan for the restructuring of TAROM.
The restructuring plan sets out a package of measures for streamlining TAROM’s operations, renewing its ageing fleet and reducing costs. Romania plans to support the restructuring with around €190 million of public funding. This support would take the form of a capital injection, a direct subsidy and a debt write-off of the rescue aid amount (approximately €36.7 million) and its corresponding interest.
This post was published on 5 July 2021 12:25
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