Cash-strapped Romanian flag carrier Tarom has sold its arrival and departure slot at London Heathrow to Qatar Airways for an undisclosed sum, SimpleFlying reported.
With the new slot, the Qatari carrier plans to operate daily flights using Boeing 777-300ER aircraft. As a result, the airline should operate around eight daily flights starting October 27 until March 29.
The Airport Coordination Limited (ACL) disclosed the deal on August 14. The transaction was a sale of the daily slots, the document showed, with the Romanian carrier transferring its slots permanently.
The value of this transaction has not been disclosed, but it is believed that these slots would have been sold at a high price. Tarom is planning to boost revenues this year and the sale of the slots was earmarked as a source of finance.
It was not immediately clear whether Tarom will scrap flights to the UK capital over the winter, or fly to a different London airport.
Tarom operates daily flights from LHR to Bucharest Henri Coanda International Airport (OTP) with a baby bus, the Airbus A318.
Earlier this year, Tarom said it aims to increase revenues by 30% in 2024 compared to last year and post a profit – after decades of losses.
In 2023, it lost almost 100 million lei (20 million euros), lower by almost 173 million lei (34.6 million euros) compared to 2022, according to Free Europe.
The carrier aims for a 180-degree turnaround and forecasts a profit of over 278.5 million lei, according to its budget proposal.
Revenues will come from the sale of four Airbus aircraft and slots at London’s Heathrow airport, boosted by state aid.
While the transaction’s sum was not disclosed, the slots should have come at a hefty price.In 2016, Oman Air reportedly paid Air France $75 million for a pair of slots at LHR., which has been capacity-constrained for decades now.
Tarom is the oldest currently operating airline of Romania, based in Otopeni near Bucharest. Its headquarters and its main hub are at Henri Coandă International Airport (OTP). The featured image shows a QR Airbus A380 A7-APG at LHR.
Tarom menţine suspendarea zborurilor către Tel Aviv, Amman şi Beirut până pe 16 august
