LOT can grow without an investor – CEO

Polish state-owned airline LOT is not looking for an investor at the moment, but rather for a partner, as the company is confident that it will be profitable. “A partner is the primary focus, an investor with a capital injection is the secondary focus. We have demonstrated and will continue to demonstrate that we can grow successfully without an investor,” LOT CEO Rafał Milczarski said. The company was in trouble in the last few years and even asked for public aid back in 2012. After the review of the European Commission, the state was allowed to loan the fledging airline PLN 800 million. After some better than expected performance, the company received PLN 412 million. “A year ago, I had much less confidence. We are on a very good track to achieving long-term profitability and growing the company in a profitable way,” Milczarski added. Poland had been in talks with potential investors from China last year.