LOT to receive second tranche of state aid this summer?

Polish state-owned airline LOT might receive another tranche of state help. “The Treasury Ministry has conditionally approved the handout,” said Deputy Minister Rafał Baniak, adding that the treasury wants to delay the second tranche as much as possible, “possibly not giving it at all, as this would mean that we would have to limit the scope of LOT operations even further,” he added. LOT received the first tranche of state aid in the amount of PLN 400 million in December 2012 and the second tranche, according to the rescue plan currently reviewed by the European Commission cannot be higher than PLN 381 million. The second tranche was initially supposed to be payed out in August last year, but since the company’s financial situation has been improving since the rescue plan has been implemented, LOT did not ask for it yet. “We’re looking for potential partners and investors for LOT,” Baniak said, adding that the treasury wants to follow Irish Aer Lingus path when it comes to finances and scope of operations. Earlier this week, EU competition commissioner Joaquin Almunia said that he expected a positive decision to come soon regarding the state aid issued to LOT Polish Airlines.