LOT Polish Airlines (LO, Warsaw Chopin) has once more gone cap in hand to the Polish Treasury, this time seeking an additional USD120million (PLN381million) in bailout funds. The Treasury Ministry, which controls most state companies and their privatisations, said it would back LOT's latest restructuring plan under "some conditions" but had not yet approved further aid following a PLN400million loan extended to it in December. However, funding may not be as forthcoming as in the past as Warsaw faces its own financial crisis as well as stringent European Commission restrictions on state funding which would forbid any further injection of capital for another 10 years. In a desperate attempt to facilitate LOT's sell-off, Warsaw has passed legislation and put out feelers to various airlines though no concrete commitment from anyone has yet been announced.
- Type
- Base
- Aircraft
- Destinations
- Routes
- Daily Flights