TAROM announces a loss reduction of 24% for the first quarter of 2013

22-Apr-2013

TAROM is announcing the preliminary unaudited results for the 1^stquarter of 2013, the loss being reduced by 24% compared to the result reached in the same period of the previous year.

The preliminary unaudited results have the following values for the 1st quarter of 2013 and show a significant improving in result trend and loss reduction.

The first quarter result of a loss of 49 million lei shows an improvement to the approved budget of 29 million lei and also an improvement of 15 million lei to the corresponding period in 2012.

"A combination of overall revenue increases and cost decrease have brought about this situation offset partially by adverse exchange movements. Through the continuation of prudent management and the implementation of the Management Action Plan, which has started with the second quarter of this year, this result trend will continue to improve and be sustained", said Christian Heinzmann, CEO and Accountable Manager of TAROM.

"The figures look very good in the management's opinion and show a better management of revenue and costs. We expect even better results in the following quarters. According to our present data, we shall fully reach our objectives for 2013", Mr. Heinzmann added.