Bailout won't pull LOT out of nose dive
PR dla Zagranicy
Peter Gentle
16.05.2013 14:44
Though Poland welcomed the EC decision to conditionally approve a state bailout package worth 400 million zloty (100 mln euro) to the debt-ridden national carrier LOT, experts say much more needs to be done to save the airline.
photo - PAP (archive)
Poland now has until June 20 to present the details of the restructurisation program needed to save the company from going bankrupt and ready the state-owned carrier for privatization.
As Danuta Isler reports, experts disagree on how deep the restructuring process – including mass lay off – has to be to pull LOT out of its financial nose dive.
Finding a potential buyer, for example, may prove difficult.
"I m not so convinced that there will be any potential buyers for one simple reason - there is nothing really worth buying in LOT. It leases the planes and does not own its own building. I think the only thing it currently owns is its famous logo,” one expert tells Polish Radio.