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LOT to receive z.90 million compensation from Boeing

3rd January 2014
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As part of its compensation from Boeing for the grounding of Dreamliner planes, Polish state-owned air-carrier LOT will receive z.60 million in cash and other incentives making the figure worth z.90 million, according to daily Puls Biznesu.

“It's a great deal, I doubt that any other airline received compensation in cash,” said Grzegorz Polaniecki, general director at Enter Air, the biggest charter airline in Poland, adding that for such an amount, an airline can open a few new routes or lease a number of new planes.

LOT can't add any new routes because after it received financial help from the treasury it has to curb its flight network rather than expand it, it still is in desperate need for money. The company estimates that in 2013 it will post a z.20 million loss, and its CEO, Sebastian Mikosz said that the company will still have to ask for a second tranche of state aid in the upcoming months.

LOT currently has five Dreamliners, with the sixth scheduled to join the fleet in March. The plane will most likely have to be leased out as the reduction in routes means the Polish air carrier will have no use for it.

Poland A.M.

From Warsaw Business Journal

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