Dan Pascariu acknowledges the positive results of Heinzmann's executive management

Dan Pascariu acknowledges the positive results of Heinzmann's executive management

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TAROM announces that the implementation of private management results in positive financial performance, during the first 6 months of the year 2013.

The financial-accounting result for the first 6 months from 2013 is better with 56.5 million lei, respectively 47% compared to the same period of the year 2012. TAROM company presents an adequate financial balance, reflected by the lack of outstanding debts to the state budget or any other partners and by the existence of the liquidities necessary to ensure the proper development of the activity object of TAROM. The main purpose of the implementation of the management plan is to improve the services offered to the clients, in the conditions of maintaining a sustainable financial stability.

“The trend of the company's results is very encouraging and is due to the sustained efforts of the employees, whose support is highly appreciated by the management. We are still waiting for a period in which we must pay more attention to the implementation of the Management Plan but I am confident that the established objectives can and will be achieved, with the commitment of the whole team ”, said Christian Heinzmann, Executive Director and Accountable Manager.

Between January and June 2013, TAROM streamlined the flight schedule and optimized the route network, which resulted in an increase of the aircraft loading rate by 3% compared to the similar period of the year 2012. TAROM also registered an increase with 1.4% of the number of passengers, on regular flights and carried 974.984 passengers.

An integral part of the process of improving the services offered to TAROM passengers is the development of the route network, by offering an optimized schedule, additional frequencies and new destinations. The new races launched by TAROM this year are: Bucharest-Dublin, Iasi-Bologna, Iasi-Turin, Iasi-London, Bucharest-Prague and Cluj-Prague.

Currently, TAROM has 2006 employees, less than 4%, compared to 2012 year, due to voluntary departures and retirements.

The positive financial result is mainly generated by improvements in the commercial area, which has led to an increase in the revenue obtained from a passenger. Also, savings were made on both fuel costs and other costs.

January-June 2013

Made positive / (negative) 2012

2013

accomplished

2013

Management Plan

2012

accomplished

Value

%

Operating income (mil lei)

534

529

498

35

7%

Gross profit (thousand lei)

(63)

(110)

(120)

56

47%

Number of passengers transported on regular flights

974,984

971,565

961,696

13,288

1.4%

Dan Pascariu acknowledges the positive results of Heinzmann's executive management:

"The Board of Directors appreciates that the recovery process of TAROM company is on the right track and expresses the hope that the positive figures registered in the first semester will be strengthened by the continuous improvement of the physical indicators, so that we have a sustainable growth."

This statement comes after a hectic period, during which Mr. Pascariu accused Mr. Christian Heinzmann of incompetence and pressured him to leave TAROM. Mr. Pascariu seeks to gain the positive results recorded by TAROM, but the applause goes to Christian Heinzmann, a man with a strong spine.

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