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LOT CEO resigns

PR dla Zagranicy
Nick Hodge 18.08.2015 17:13
Sebastian Mikosz, CEO of LOT Polish Airlines, tendered his resignation on Tuesday.
Sebastian Milosz. Photo: PAP/Leszek SzymańskiSebastian Milosz. Photo: PAP/Leszek Szymański

Mikosz has argued that the government has stalled the privatisation of the airline, hence his departure.

However, the Polish Treasury Ministry immediately sought to dispel such claims.

“It is not true that the ministry is delaying the process in any way,” a statement released on Tuesday afternoon stressed.

The Treasury Ministry has changed the law on LOT to enable an investor to access the company,” the ministry continued, adding that “many documents” had to be prepared.

However, Mikosz told Air Transport World in May that privatisation cannot happen because nobody wants to buy 49 percent in LOT when the rest of the company remains in the hands of the government.

After a series of bailouts, it seemed that LOT was turning itself around. Figures for 2014 showed the company's first net profit in seven years.

However, it was recently overtaken by Ryanair as the biggest carrier in Poland. (nh/rk)

Source: IAR

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