SAS is appears ready to bid for Polish carrier LOT

Joergen Lindegaard, the president of SAS Airlines, said in an interview with the Swedish press, that the carrier is interested in taking over Polish Airlines LOT, as part of the company's strategy which envisages expansion in the East European market. Lindegaard added that he is considering investing into Air Lithuania, but it is waiting to see the terms the carrier has to offer. Three weeks ago, SAS Airlines informed that it was purchasing a 49% stake in Estonian Airlines, a transaction worth $22 million. A 68% stake in LOT is controlled by the State Treasury, however around 25% of shares belong to the receiver of the bankrupt Swissair, who is looking for a buyer for the stake. Rutger Schimmelpenninck, the representative of the receiver, an nounced plans to commence negotiations to sell the block at the beginning of 2004. The State Treasury on the other hand, has not mentioned any plans to privatize the carrier within the next year. (Parkiet, p. 4; Puls Biznesu, p. 5) A.K.