TAROM, losses 11m euros in 6 months of 2009

National flag carrier TAROM reported losses worth 11 million euros in H1 2009 allowing for the diminution by 11.7 percent of the load factor and economic crisis, the company informs.

In the context of global economic crisis, TAROM company carried in H1 as many as 765,000 passengers, reporting therefore an average load factor of 50.33 percent, 11.7 percent below the load factor estimated through the budget of revenues and spending.

For laying the foundations of the budget of revenues and spending at the end of 2008, TAROM aimed to carry 990,000 passengers for H1 of 2009.
Among the factors that led to these effects, a major role plays the diminution of the volume of foreign direct investments in Romania, and of the needs for transports triggered by them, Romania being one of the most hit countries of the European Union.

According to the National Bank of Romania (BNR), the diminution of foreign direct investments in Romania was of 42.9 percent as against the same period of the previous year, respectively from 5.07 billion euros to 2.8 billion euros in 2009.

In the context of the evolution of the traffic of passengers, TAROM operated by 477 less foreign flights, as against H1, 2008, down by 9.7 percent.
In the first six months of 2008, the air carrier carried in total over 901,500 passengers, with an average load factor of 62 percent.

The International Air Transport Association (IATA) has estimated the overall losses of the industry this year worth 9 billion dollars.
The Geneva-based organization, which represents 230 air companies worldwide (93 percent of the international air traffic) has recently announced a loss of 6 billion dollars for the first half of 2009.

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