Locked content LPP sees revenue at PLN 10.5 billion in 2021

Clothing retailer LPP targets 2021 revenue at PLN 10.5 billion compared to PLN 7 billion in 2017. The company plans investment of PLN 1.5 billion in the network of shops till 2021, LPP said in a statement. The retailer plans online sales share to reach 20 percent in 2021 versus 8 percent currently. ...

Locked content Wizz Air has 60 million passengers in Poland

Hungarian low-cost airline Wizz Air reached 60 million passengers in Poland since it had started operating in the country in 2004, Corporate Communications Director Andras Rado said. He also foretasted passenger traffic from and to Poland at 10 million passengers in 2018 compared to 8.1 million a ye...

Locked content LOT to launch Warsaw-Lublin route from September

LOT Polish Airlines will start a connection between Warsaw and Lublin from September 3, 2018, the company has announced. Flights on the route will take place five times a week, throughout the year. They will be performed by a Bombardier Q400 aircraft, which can accommodate 78 passengers. Flights on ...

Locked content Government accepts ‘Apartment to Start’ rent subsidy program

The Council of Ministers has adopted a bill on subsidies for rent covering the first nine years of lease, the Ministry of Investment and Development (MIR) has announced. The so-called “Mieszkanie na Start” is part of the “Mieszkanie +” program. The amount of subsidies will de...

Locked content TFI assets grew by 1.3% in May

The assets of Polish investment funds (TFIs) increased by 1.3 percent month-on-month to PLN 284.1 billion in May, according to Analizy Online and IZFiA. Cash funds saw the biggest growth rate (by 4.1 percent), followed by non-public assets funds (3 percent) and absolute return funds (2.1 percent). T...

Locked content NBP: Banking sector stable

Poland’s banking sector is stable and resilient, according to the latest financial stability report compiled by Poland’s central bank (NBP). “Poland’s financial system is functioning in a stable manner, supported by the domestic economic environment that exhibits no major imbalances. The level and g...

Locked content PFR files PESA takeover motion to UOKiK

FIPP FIZAN fund controlled by state-run Polish Development Fund PFR filed the motion to the antitrust watchdog UOKiK to takeover rolling stock producer PESA. Back in May, PESA signed an agreement regulating in detail the rules for the takeover of its shares by the Polish Development Fund. This meant...

Locked content Energa’s three lawsuits against windfarm operators dismissed

A subsidiary of WSE-listed power group Energa, Energa-Obrót had three of its lawsuits demanding nullification of its contracts with windfarms rejected by an arbitration court, the company said in a market filing. The company is considering filing an appeal and is analyzing the potential financial im...

Locked content Globalworth with €450 mln private placement

WSE-listed real estate developer Globalworth Poland (formerly known as Griffin Premium RE) is launching a private placement offer of up to 350 million new shares and plans to raise at least €450 million, the company said in a market filing. The company’s main shareholder, Globalworth Real Estate Inv...

Locked content Insurers want PPK assets exempt from bank tax

Insurers lobby Polska Izba Ubezpieczycieli PIU wants assets of employer-sponsored pension plans PPK managed by insurers to be exempt from the so-called bank tax. The Finance Ministry is currently analyzing the issue but is “reluctant” to make any exemptions. “This is a fundamental problem because we...