The exit from Heathrow was one of the measures that TAROM has taken through the restructuring plan, and the sale of the operating slots is an achievement, because they have a significant economic value, the company’s acting CEO, Costin Iordache, said on Tuesday, in a press conference.
„The way in which the London slots are operated from an economic point of view has some industry-specific facilities, which do not allow a decrease or a change in the operating frequencies in order to optimize this route. Specifically, according to the allocation rules we have at that airport, we have to operate every day to London, because that is how the respective slot was granted. You can’t operate only three days a week instead of seven. This means that the economic value of the slot will be affected. London is the only operator or the only place where these slots have an economic value, which we have tried to maximize in favor of TAROM. This is the decision and it was assumed as part of the restructuring measures,” Iordache explained.
„This process of selling slots at Heathrow was initiated two years ago. Discussions and negotiations take at least one year for such a transaction. At the same time, we must take into account the fact that Heathrow is the only airport where slots have a tradable value. If we had chosen another airport in Europe and given up on that route, we would not have been able to capitalize on those slots. This is how we do it and we provide the company with funds for investments in new aircraft, for example (…),” TAROM spokesman Alexandru Anghel said, in his turn.
Regarding the transport capacity on Heathrow, Costin Iordache said that „it is provided for in the restructuring plan through an increase and better use of the frequencies we have in the area of the other routes that we have left in Europe at the moment. Madrid, for example, is one of the potential routes we want to develop.”
TAROM continues to implement the restructuring plan, which includes essential measures to reduce losses, pay debts, stabilize the company and bring it into an area of profitability and economic health, thus ensuring a sustainable future. These measures include the capitalization of assets that contribute to achieving economic viability indicators, such as the operating slots at Heathrow Airport.
TAROM National Romanian Air Transport Company was founded in 1954 and operates under the authority of the Ministry of Transport, being a member of the SkyTeam Alliance since June 25, 2010. Romania’s national carrier owns 18 aircraft and covers 70 destinations operated with its own aircraft or served by its code share partners. Since 1993, TAROM has been a member of the International Air Carriers Association (IATA).
AGERPRES
