LOT to receive aid worth PLN 127 mln

Poland’s national airline LOT is due to receive the second tranche of state financial aid in December. Its amount has been reduced to PLN 127 million. LOT Polish Airlines received the first tranche of aid, a loan worth PLN 400 million, in December 2012. In accordance with a plan approved by the European Commission, it is entitled to a further PLN 381 million. In its statement on the aid, LOT said that its financial situation is getting better. “Even though the market is exceptionally hared and very competitive, our position continues to improve,” said Sebastian Mikosz, the company’s chief executive.