Will LOT finally be privatized this year? COURTESY OF BOEING

Sebastian Mikosz, CEO of Poland's national airline PLL LOT, said that the company should be privatized before the end of the year. The State Treasury is likely to keep a minority stake in LOT after the sale. Before the sale, the company has to undergo restructuring, Mr Mikosz said. More importantly, a law that prevents the state from selling a majority stake in LOT has to be changed.

The CEO said that a European airline would be the most obvious investor. However, LOT could also be bought by funds and a minority stake could be bought by a non-EU airline. EU law requires that at least 50 percent stakes in member-state airlines be held by EU entities.

On Thursday, Prime Minister Donald Tusk said that without group layoffs LOT won't survive. He added that the airline won't recieve any more financial help from state. In December, LOT received a bailout of some zł.400 million.

Poland A.M.