Romanian Tarom General Manager Resigns – Sources

Ruxandra Brutaru has been the company’s general manager since late-2008. At that time, she was appointed by then transport minister Radu Berceanu to replace Gheorghe Barla.

The social democrats requested Brutaru’s dismissal early-February, citing inadequate management that brought the company to a $100 million loss in 2010.

Tarom is on the list of companies monitored by the International Monetary Fund. The government pledged to privatize the company with a strategic investor when market conditions are right.

The airline operator transported 2.2 million passengers last year, up 24% from 1.77 million in 2009. The company expects to break even in 2011, from a net profit estimated at some RON20 million last year. In 2009, the carrier reported a net loss of 90.99 million lei (EUR1=RON4.1865), despite expectations of a RON760,000 profit.