Tarom remains in the red

State-held Tarom, the biggest airline company, with 191 million-euro sales last year, ended the first five months of this year in the red, although the number of passengers saw a 26% rise, according to company officials.

"Even though we cut the company's costs by 7-8% against last year, we ended the first five months in the red. The airline's results are dependent on the overall economy. We saw losses because of the dollar's appreciation (The bulk of the company's costs are in dollars) and because of the rise in the price of oil. If the price of fuel continues to increase, the company will end this year in the red, as well," said Ruxandra Brutaru, 29, the airline's CEO, without specifying what the operator's losses amounted to in the first five months of the year.

The airline estimated 21 million euros in losses for last year, with the data to be audited.

Tarom carried 1.7 million passengers last year, and this year expects to carry 2.1 million passengers on domestic and external routes, accounting for a 20% share of the airline market, according to company officials.