Centralwings to float on stock market after LOT IPO

"An IPO [for LOT] is planned for 2007," said Ireneusz Dabrowski, deputy treasury minister. "The Treasury Ministry will retain a controlling stake in the firm." Following the floatation of LOT, the ministry wants to solve the issue of Centralwings. "There are offers of investors willing to take over the company, so it might be sold in full," said Dabrowski. He stressed that this will enable any offer made by Ryanair to be rejected, as Centralwings is to compete with the cheap Irish airline. "Stories of an IPO of LOT have been around for some time and they are losing credibility. Let's wait for facts," said Tomasz Dziedzic from the Tourism Institute. Centralwings' current strategy sees it moving into the black at the end of 2008, something that could not be achieved without an injection of capital. (Puls Biznesu, p. 1,9) M.M.