National airline company TAROM announced on Tuesday having fulfilled a new milestone in its Restructuring Plan, after recently finalizing the contract for the sale of its 50% stake in Romanian Fueling Services S.R.L. to Air British Petroleum, the air operator said in a release.Along with the decision to grant state aid to the flagship air carrier, the Romanian authorities also undertook to sell TAROM's stakes in companies where it holds majority control (over 50%) or negative control (50%) and which are not part of TAROM's main activity (passenger and cargo air transport operations), so that the national air transport company narrows its presence in the market so as to not affect or restrict domestic competition. These steps should have been completed starting with the end of 2024, but no later than the end of the restructuring period, namely 2026.One of the companies targeted by this commitment is Romanian Fueling Services S.R.L., whose share capital was held 50-50 by TAROM and Air British Petroleum.On March 26 this year, the sale agreement was signed and the transaction was recently finalized following the final approval by the competent authorities, TAROM informed."Over the years, the fact that we had Air BP, one of the world's largest aviation fuel suppliers, as our partner, has been a factor of balance and stability. We are delighted that we have jointly managed to complete an important transaction," said TAROM CEO Costin Iordache
More than 680 houses in Suceava country and 170 houses in Neamţ county were impacted in the flash floods that hit northeastern Romania at the end of last week. Forty-one houses were completely destroyed, Raed Arafat, the head of the Department for Emergency Situations (DSU), announced on Friday, August 1. Three people were killed in […]
Romanian justice minister Radu Marinescu said on Thursday, July 31, that harsher penalties are being considered for violence against women and domestic violence, including the criminalization of femicide. The minister said that Romania currently has legislation that is fairly adequate, in line with European standards, for combating violence, including domestic violence. He also said that […]
Via Transilvanica, the long-distance trail that crosses the country, will apply to be the first accredited long-distance route in Romania after the government issued the methodological norms regulating the hiking trails of national interest. Tășuleasa Social, the non-profit that developed the trail, called the recently issued norms "a huge step that transforms a bold idea into...
Former prime minister and Social Democratic leader Marcel Ciolacu stated that he does not rule out a candidacy for the presidency of the Buzău County Council, after rumors to that end. PSD Buzău president Romeo Lungu had previously told journalists that discussions are underway for the former prime minister to run for the Buzău County […]
The Balneo-Physiotherapy Clinic in the Călimănești resort town, southern Romania, will undergo rehabilitation with a EUR 10 million financing from the European Union, according to representatives of the Vâlcea County Council. The project implementation period will be 24 months from the completion of the tender for the execution of the works, which include, in addition […]
Bringo, the first personal shopper-based rapid grocery delivery service in Romania, handling over 4,000 daily orders in more than 35 cities, launches a loyalty program that turns shopping into a continuous reward experience. "Beyond functional benefits like discounts, free delivery, or double refunds for SGR packaging collected right at your doorstep, Bringo YOU offers a […]
