EnglishLast month, the Board of Directors of Avioane Craiova decided to replace General Manager Radu Costaşuc with Marin Stancu.
In the first three months of 2011, Avioane Craiova posted losses of 1.43 million lei, up from 1.1 million lei in the similar period of 2010.
In Q1 2011, the company"s turnover fell to 603,296 lei, down from 852,411 lei in Q1 2010. The company posted operating revenues of 754,456 lei, whereas in Q1 2010 its operating revenues amounted to 936,016 lei. On the other hand, operating expenses increased slightly, from 2.11 million at the end of Q1 2010, to 2.20 million lei, as it reported at the end of March 2010. Avioane Craiova reported operating losses of 1.44 million lei.
The Romanian state controls 80.97% of the company, through the Mnistry of the Economy.
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