Poland: LOT to Downsize Radically

Published: January 5, 2013; 22:55 · (Vindobona)

The financially stricken Polish airline must scale-down its activities drastically in order to become profitable again

Poland: LOT to Downsize Radically / Picture: © Vindobona.org


LOT Polish Airlines will be downsized by a half of its current size, the government said. At the end of December, the airline has received an aid package worth more than € 250m. Without the aid measures, LOT would have been threatened by bankruptcy, CEO Marcin Pirog admitted. “Although LOT has sold assets worth more than € 150m, there will be enormous losses.” he said.…

This article includes a total of 263 words.

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