Romanian aerospace maintenance co Romaero resumes activity

The measure was taken following Romaero's compliance with the AACR's requirements, the company said in a report filed with the Bucharest Stock Exchange.

In October, AACR suspended Romaero's maintenance activity due to a shortage of quality control staff.

The decision to suspend Romaero's activity came following a typical periodic inspection aiming to ensure that all aerospace maintenance enterprises comply with applicable laws, the civil aeronautic authority said at the time.

Established in 1920, Romaero is an aerospace company that integrates two major activities: aerostructure manufacturing and maintenance and repair for civil and military transport aircraft.

Its main shareholders are the economy ministry with 56.71%, investment fund SIF Muntenia with 23.24% and property investment fund Fondul Proprietatea with 18.87%, according to information posted on the Bucharest stock exchange.

The company ended 2021 with a net loss of 63 million lei ($12.7 million/12.8 million euro) and at end-2021 employed 777, latest data from the finance ministry's website shows.

Romaero's shares last traded at 26 lei on October 24 on the AeRO market of the Bucharest Stock Exchange.

(1 euro=4.9113 lei)