Air China to buy minority stake in PLL LOT- Rzeczpospolita

Air China, China's national carrier, is said to be in talks with the Ministry of Treasury concerning the purchase of 49 percent of PLL LOT's shares, Rzeczpospolita reported. According to valuations, such a minority stake in the company may cost around $100 million. The Chinese investor might be a savior for the polish carrier, who has had problems with the repayment of liabilities for years. "It'll be a backdoor entrance into the European market for the Chinese," President of the Employers' Group of the European Economic and Social Committee Jacek Krawczyk said. A similar transaction was made between Korean Air and Czech Airlines in 2013, with the sole purpose of opening the door to the EU. PLL LOT is a polish joint-stock company with the Treasury as majority shareholder.  It has repeatedly been put up for sale in recent years, transactions with the now bankrupt Swissair, Turkish airlines and Indigo Partners have been unsuccessful.