TAROM announces a 24% reduction in loss for Q1 2013

TAROM announces a 24% reduction in first quarter 2013 loss

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TAROM officials announced that losses on Q1 2013 are 24% lower than Q1 2012. After many months of controversial statements and measures taken, TAROM seems to be on track.

tarom

I am optimistic about the TAROM airline operator, but I am still reserved on these figures. I hope that at the end of 2013 we will have clear, official and real figures. I don't believe in the wonders done overnight, nor in the 3 months, but maybe in a year the correct results will be seen.

Below is the official press release.

TAROM announces the unaudited preliminary financial results for the first quarter of the year 2013, the loss being reduced by 24% compared to the same period last year.

The unannounced preliminary results for the first quarter 2013 show a significant improvement of the result:

Millions lei

1 quarter - result

1 quarter - budgeted

Quarter 1 - 2012

result

-49

-78

-64

Loss improvement

29

15

The results of the first quarter of the year 2013 show a loss of 49 million lei, which means an improvement of the result of 29 millions of lei compared to the approved budget and an improvement of 15 million lei compared to the same period last year.

“The combination of multiple measures, which went both in the direction of increasing revenues and reducing costs, made up for the economic difficulties and generated a very good result. We will continue to carefully manage the situation of the company and we will continue to implement the management plan, started at the beginning of the second quarter of this year, for the constant and sustainable improvement of the financial result ”, said Christian Heinzmann, CEO of TAROM.

“The results look very good in management's opinion and demonstrate a more efficient management of revenues and costs. We expect much better results from the second quarter, when the management plan begins to be implemented. According to the data we have at the moment, we will fully achieve our goals for the year 2013, ”added Christian Heinzmann.

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