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
“Catane,” a dark comedy inspired by real events and directed by Ioana Mischie, is set to have its first special screenings in Romania after a successful festival circuit. The film had its world premiere at the IFFI Goa festival in India and was nominated this year at the Hollywood Music in Media Awards for Best […]
Romania is among the European countries where water reserves are decreasing at an alarming rate, according to an analysis carried out by researchers from University College London in collaboration with The Guardian and Watershed Investigations. Scientists analyzed data from the period 2002–2024 provided by satellites that monitor changes in the Earth's...
George Smyth, 18, went missing on a hike near Romania’s famous Bran Castle more than a week ago. On November 23, the British citizen started to suffer from hypothermia and exhaustion and called the emergency services. Trying to locate him, mountain rescue services conducted searches over the next few days but were only able to […]
Over 107,000 people in Prahova and Dâmbovița counties, in southern Romania, have been without drinking water since Friday, November 28, due to problems at the Paltinu Dam. According to local authorities, the problems are set to persist until next week. The dam registered a drop in water levels, leading to problems in the water distribution system. […]
A special ‘Silent Day’ event will be held at the Bucharest Christmas Market in Constituției Square on Wednesday, December 3, aimed at creating a quieter and more accessible environment for children with sensory disabilities. The initiative is designed to make the festive market manageable for children who may struggle with loud noise, bright lights, and […]
Romanians have the highest level of trust in others in the European Union, according to the most recent Eurostat data for the year 2024, ahead of the usual leader of the ranking, Finland. The indicator ‘trust in others’ measures a person’s trust in people they do not know on a scale from 0 (‘I...
