LOT in talks with investors over privatization; mulls IPO

Polish state-owned carrier Lot Airlines is in active talks with operators and private equity groups over the company's privatization, the Financial Times informed quoting Sebastian Mikosz, CEO of the company. “We are actively working on getting private money,” Mikosz told the paper. When the newspaper asked when he would like to sell the airline, he replied: "Tomorrow," and added: “Consolidation is completely unavoidable. There are too many airlines [in Europe]. It is a really challenging environment . . . particularly for airlines the size of Lot . . . We are simply too small.” Mikosz acknowledged that selling the airline is not an easy job, therefore he is considering a public offering. “If we do the restructuring well, in 12 months you can have a bond issuing, we can think about an IPO. And in six months' time, if we deliver good 2015 results, an IPO looks even better.”