EC probes into the EUR 190 mln state aid for Romania's flag carrier
Photo by Iakov Filimonov / Shutterstock.com
The European Commission has opened an investigation into Romania's EUR 190 million support measures in favor of TAROM airline, according to a statement published on Monday.
The Commission is probing into whether the restructuring package for the state-owned flag carrier was in line with EU rules on state aid to companies in distress.
Romania eyes to cut costs and renew TAROM's old fleet by capital injection, through a direct subsidy and a debt write-off corresponding to the amount of rescue aid (approximately EUR 36.7 million) and related interest, the Commission reported, adding the carrier had been experiencing financial difficulties for the past years.
On May 28, 2021, the Romanian authorities notified the Commission of a restructuring plan for TAROM.
ADVERTISEMENT
Business Confidence Worsens, Consumer Confidence Improves
Parliament Negates Mandatory Membership in MOK
Haulier Koncsek Trans Invests HUF 150 mln in Garage Upgrade
Budapest Leaders Unveil Plans to Scale Back Traffic on Thoro...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
