Vladimír Urbánek (Kurzy.cz)
World markets  |  January 07, 2013 15:41:42

LOT Polish government provided bailout loan - the last chance to save


According to agency reports, the Polish government has provided national airlines LOT bailout loan of 400 million zlotys or about the equivalent of 2.4 billion.

LOT for several years languishing in existential problems. From 2008 to 2011 the company underwent a 1.1 billion zlotys. Problem management, the company still remained last year and expects a loss this year. According to the Polish Prime Minister is the assistance provided probably the last chance for salvation, no more would be no repetition. LOT has become full 93%. The government has previously tried to sell or at least partial privatization, but yet always without a specific result.

A major risk is the last year for the LOT Commission's decision, that authority its decision de facto ended the existence of the Hungarian Malev, when he ordered the return of hundreds of millions of euros of state aid.
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Polská vláda poskytla LOTu záchranný úvěr - poslední šance na záchranu

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