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EC clears LOT of public aid doubts

PR dla Zagranicy
John Beauchamp 30.07.2014 14:15
  • EC clears LOT of public aid doubts. Sławek Szefs reports.
The European Commission has cleared the 804 million zloty, roughly 200 million euro, package of public aid for company restructuring of Poland's national air carrier.

Head
Head office of LOT Polish Airlines; Photo courtesy Wikimedia Commons/author Kpalion

As Slawek Szefs reports, the decision has strengthened the company's chances for avoiding bankruptcy.

The presented restructuring plan, which undoubtedly had the greatest bearing on a positive response from Brussels, included personnel reductions as well as trimming of connections and serviced routes.

”The restructuring plan also takes into account compensation, which means we had to give back to the market some of the public aid received,” Barbara Pijanowska-Kuras, LOT spokeswoman, told Polish Radio.

The agreed reforms are to be fully implemented by October 2015. Only then will LOT be allowed to expand its network of operations.

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