The European Commission has given the Polish authorities a nod in the case of the national air carrier, LOT. According to Rzeczpospolita and a subsequent news report from ISBnews, Brussels sees positively the current overhaul of Polish Airlines LOT and has issued a letter of comfort to the Polish authorities which are preparing to funnel PLN 250 million into the carrier’s account.
Although the news has not been confirmed by LOT or the State Treasury, it’s very likely that LOT will take advantage of the offer. Its planned expenses include 20 new narrow-bodied aircraft. The state-owned airline has already accepted a first installment of PLN 400 million in a rescue package paid out in 2012. Its short-term goals are to return to profitability and maintain liquidity.
LOT’s forecasted 2014 profits should reach PLN 70 million. It has been in business since 1929. It includes 60 destinations in Europe, North America, the Middle East, and Asia.