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Treasury Minister: Aviation holding in the works, but not a remedy for LOT

21st January 2014
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The creation of a national aviation holding is not meant to be a remedy for the financial problems of LOT Polish Airlines, Treasury Minister Włodzimierz Karpiński told the Polish Press Agency in an interview.

Poland’s national airline must first of all undergo restructuring and regain profitability, Karpiński explained.

The Treasury Ministry, together with the Ministry of Development and Infrastructure, is working on an aviation firms consolidation plan. One of the options is to create a holding that would include LOT, Eurolot, LOT AMS, LS Airport Services and airports.

Such a concept worked in the Czech Republic, Karpiński said, while the Hungarian national airline Malev went bankrupt, causing trouble for the Budapest airport.

In December LOT CEO Sebastian Mikosz estimated that the company’s loss in 2013 should be at PLN 20 million instead of the previously projected PLN 142 million loss.


Poland A.M.

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