Poland: Rescue Loan for LOT Approved

Politics ♦ Published: May 16, 2013; 11:51 ♦ (Vindobona)

A new law passed on Friday makes it possible to privatize Polish carrier LOT.

Poland: Rescue Loan for LOT Approved / Picture: © LOT Polish Airlines

The EU Commission has determined to grant a rescue loan by the Polish government in the amount of PLN 400m to airline carrier LOT. According to the EU, the granting of aid was in line with EU state aid rules, the Commission announced on Wednesday. The country has granted a short-term loand to LOT to permit the company to pay its creditors and continue operating activities until a…