Avioane Craiova hopes for state aid for rescuing and restructuring

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State controlled aircraft factory in Craiova wants to get a state aid for rescuing and restructuring, after the company recorded losses of RON 7.18 million and total debts of RON 118.7 million in the first nine months of last year, profit.ro informs.

Board of Directors of Avioane Craiova proposes the conversion of company’s debt to the state into shares and the majority shareholder to increase the share capital for investment in upgrading working facilities.

The management will present a plan in this regard no later than the second half of February 2016 and requires an analysis in urgency regime of the possibility of obtaining the state aid, the General Meeting of Avioane Craiova Administrators shows in a decision taken last December.

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