Poland to sell off LOT stake

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By TESTCustomwebLP TESTCustomwebLP August 4, 2016 08:10

Poland to sell off LOT stake

The Polish Deputy Prime Minister, Mateusz Morawiecki, has confirmed that the government is in talks with potential investors from China over selling a stake in the state airline LOT.

“LOT is our national carrier, which we are trying to save no matter the cost. It is deeply in debt,” Morawiecki told state news agency PAP. “The previous government has already granted public support for LOT, we cannot grant another and we are looking for an investor… According to EU law a carrier from outside the EU cannot take over more than 49 percent of a carrier from the EU, hence we are in talks with potential investors, among others, from China.”

Local media reports have suggested that Air China is interested in buying a 49% stake in LOT but this was denied by the airline.

“I have no knowledge regarding any planned capital co-operation between LOT and Air China,” Adrian Kubicki, LOT spokesman. “We have commercial co-operation with Air China, which we want to develop, regarding the Warsaw-Beijing route.”

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By TESTCustomwebLP TESTCustomwebLP August 4, 2016 08:10