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LOT expects PLN 170 mln profit in 2015

6th February 2014
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The CEO of the state-owned Polish airline, Sebastian Mikosz said in an interview with Dziennik Gazeta Prawna that he expects the company’s next year’s profit to reach PLN 170 million, compared to the PLN 71 million forecast for this year.

“Our plan is to have profit large enough that we won’t have to ask for additional state aid, but I can’t say that our current forecasts allow us to say that we’ll get by without any help from the Treasury,” Mikosz said, adding that LOT won’t ask for the second tranche of state funds at least until June.

The company’s rescue plan is currently being reviewed by the European Commission. LOT received the first tranche of state aid in the amount of PLN 400 million in December 2012 and initially expected to receive the second tranche in August 2013 wort PLN 381 million.

Mikosz has said numerous times that because the company’s financial situation is improving, the second tranche won’t need to be so large.

Poland A.M.

From Warsaw Business Journal

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