newstodate.aero
Dec 13, 2012 (newstodate): The Polish carrier LOT is to join the line of European airlines seeking state aid to survive.
The Polish Ministry of State Property has officially acknowledged that it is to consider an application from the carrier for injection of up to 100 mio euro, but industry sources claim that the state aid package to secure survival of LOT will eventually go much higher.
As a precondition for the state injection, the carrier must cut costs by 30 percent, sources say.
But first of all, the Polish state must seek EU approval of the planned state subvention.
The Polish Ministry of State Property has officially acknowledged that it is to consider an application from the carrier for injection of up to 100 mio euro, but industry sources claim that the state aid package to secure survival of LOT will eventually go much higher.
As a precondition for the state injection, the carrier must cut costs by 30 percent, sources say.
But first of all, the Polish state must seek EU approval of the planned state subvention.