The debts owed to the Treasury by Romaero, a strategic state defense company specializing in aeronautics and insolvent since January, will be assumed by the Authority for the Administration of State Assets (AAAS). This institution, which operates under the Ministry of Economy and is the majority shareholder of Romaero, will take on the debts following a government decision today. The goal of this measure is to attract investors to the company. The procedure as such, which is applicable to all state companies insolvent, bankrupt or in preventive arrangement, was recently regulated by emergency ordinance. The budgetary claims held by ANAF on Romaero, to be transferred to AAAS, currently amount to more than 466 million lei, which represents more than half of the company’s total credit balance, amounting to more than 851 million lei. ″Although it made efforts to partially pay the amounts owed to the state budget and the social insurance budget, given that the activity was disrupted by several factors that caused fluctuations in the volume of activity and contracted works, it was not possible to fully comply with due dates. If the current situation were to remain unchanged, the company would face a risk of bankruptcy, and all the efforts made so far to stabilize it and the relations with the other creditors would be practically cancelled. Based on the specific procedures, AAAS can contribute to attracting investors interested in developing the company’s activity segment, while ANAF mainly aims to capitalize on assets and recover debts in a relatively short time”, states the explanatory note of the decision regarding the takeover by AAAS of Romaero’s tax debts. The American defense group Lockheed Martin and Aerostar Bacau very recently opened the first certified maintenance, repair and overhaul (MRO) service center for the S-70 Black Hawk helicopter in Europe. The center was originally supposed to be opened in Romaero, but the idea was dropped due to the company’s financial problems.
Romanian deep-tech startup .lumen, the developer of what it says are the world’s first AI-powered glasses for the blind, has secured a new investment from EIT Urban Mobility, the European innovation community focused on advancing sustainable and inclusive urban mobility solutions. The value of the new funding round was not disclosed. The investment aligns with […]
The health spending per capita in Romania was the lowest in the EU, with spending less than half the EU average in 2023, the recently released report, State of Health in the EU - Romania Country Health Profile 2025, shows. At the same time, life expectancy in Romania is 5.1 years below the EU average, […]
Romania’s annual inflation rate stood at roughly 9.8% in November 2025, similar to October, according to data published by the National Institute of Statistics (INS). Food prices increased by 7.6% last month, while services rose roughly 11% and non-food goods climbed 10.7%. The consumer price index rose by 0.42% in November compared with October, while […]
Three French soldiers deployed in Romania as part of NATO’s Multinational Battle Group at Cincu intervened to save a truck driver following a serious traffic accident on the A3 Bucharest–Ploiești motorway, the Romanian Ministry of Defense said. The incident occurred earlier this week as the soldiers were traveling toward Ploiești and witnessed the truck crash...
Eight contemporary art galleries will present the works of the artists they represent at the third edition of the Smallest Art Fair in Town, an event dedicated to works on paper. This edition showcases works “investigating the state of wandering, disorientation, and rediscovery in the face of uncertainty.” Under the title In Dark Woods, A […]
Parents everywhere are asking an important question: What skills will truly prepare a child for a world defined by rapid change, global uncertainty, and the rise of artificial intelligence? For decades, schools focused entirely on academics. Today, research from neuroscience, performance psychology, and leading universities shows a different reality: The students who thrive long-term are […]
