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Polish treasury minister: LOT needs urgent investment

PR dla Zagranicy
Nick Hodge 29.01.2016 12:55
Poland's Treasury Minister Dawid Jackiewicz said on Friday that national air carrier LOT is once again in need of 'a cash injection'.
Photo: cc/WikimediaPhoto: cc/Wikimedia

Jackiewicz's comments came after LOT's supervisory board appointed Rafał Milczarski as chairman of the company on Thursday.

The company must actively seek solutions, because it is not in a rosy situation,” the minister said.

This solution must bring financial support,” he stressed.

I am also involved in such a search.

I think the new chairman will find an equity investor,” he claimed.

At present, the Polish State Treasury has a majority stake in the company. Poland's previous centrist government, led by the Civic Platform, lost the October 2015 general election to the Law and Justice party, and Jackiewicz was sworn in as the new treasury minister in November.

LOT has been beset by financial difficulties in recent years, but a restructuring programme had shown signs of promise.

Former LOT chairman Sebastian Mikosz had been looking for an investor, with Turkish Airlines a contender at one stage, although a deal fell through.

Mikosz resigned in August 2015. He was succeeded by Marcin Celejewski, who in turn has been replaced by Milczarski.

We do not want to lose control over the company, but a cash injection is needed,” Jackiewicz said. (nh/pk)

Source: PAP

tags: LOT
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