newstodate.aero
Sep 19, 2012 (newstodate): A recurring issue for several years has been the potential privatization of LOT Polish Airlines.
The state holds 68 percent of the stake in the carrier, with a Polish financial institution holding 25 and airline employees the remaining about seven percent.
But the state has now put all plans for privatization of LOT on hold, citing the current dire situation for many airlines in Europe and the increasing number of bankruptcies so far in 2012.
Privatization may still become an issue in the future, but only as the global investment climate recovers and the airline industry sees improvements again.
The latest re-bounce in sales plans were spurred by interest shown by Turkish Airlines earlier in 2012. But the carrier finally withdraw from negotiations again in June as it became clear that a take-over would conflict with EU requirements on limited ownership shares by non-EU parties.
Prior to that, a tender effort was also made in 2011 - but produced no results.
The state holds 68 percent of the stake in the carrier, with a Polish financial institution holding 25 and airline employees the remaining about seven percent.
But the state has now put all plans for privatization of LOT on hold, citing the current dire situation for many airlines in Europe and the increasing number of bankruptcies so far in 2012.
Privatization may still become an issue in the future, but only as the global investment climate recovers and the airline industry sees improvements again.
The latest re-bounce in sales plans were spurred by interest shown by Turkish Airlines earlier in 2012. But the carrier finally withdraw from negotiations again in June as it became clear that a take-over would conflict with EU requirements on limited ownership shares by non-EU parties.
Prior to that, a tender effort was also made in 2011 - but produced no results.