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Oct 17, 2022 12:02 EEST
October 17 (SeeNews) - Romania's Civil Aeronautic Authority AACR said is has suspended the activity of aerospace maintenance company Romaero [BSE:RORX] 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 in a press release on Saturday.
While Romaero carried out maintenance works in accordance with producers' requirements, AACR had to suspend its activity due to a shortage of quality control staff, which are supposed to verify maintenance works.
On Friday, local portal Economica published a letter from Romaero employees denouncing "hazardous working conditions" within the company and delays in salary.
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 ($12.4 million/12.8 million euro) and employs some 777, latest data from the finance ministry's website shows.
Romaero's shares traded flat at 30.2 lei by 1002 CET on Monday on the AeRO market of the Bucharest Stock Exchange.
(1 euro=4.935 lei)
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