Poland considering plan to put LOT airlines, airport and services into single holding company

The Associated Press 0

WARSAW, Poland – The Polish government is considering creating a holding company that will own the troubled state-run LOT airline, the short-range carrier Eurolot, ground services and an airport.

Treasury Minister Wlodzimierz Karpinski told Polish agency PAP on Monday that the new company could be listed on Warsaw’s stock exchange.

He said the plan under consideration was inspired by the success of a similar one by the Czech Republic.

Karpinski said the move is not intended to sort out the financial problems of LOT, which is restructuring.

LOT closed 2013 with a loss of some 20 million zlotys ($5 million). The European Commission is reviewing the restructuring plan to decide whether to allow some 100 million euros of government aid the airline received in 2012.

LOT is almost 93 per cent state-owned.

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