LOT Postpones Applying For State Funds

LOT Polish Airlines has confirmed it has postponed making a decision on whether to apply for a second tranche of public aid until the end of October.

LOT Polish Airlines has confirmed it has postponed making a decision on whether to apply for a second tranche of public aid until the end of October.

The carrier announced yesterday (October 2) that cash flow at the end of September was good enough to ensure that it did not need the extra funding to finance its continued restructure.

LOT remained in profit during September, after recording its first operating profit in several years at the end of August.

The carrier received a €100m ($129m) loan from the Polish government in 2013 and in July, the European Commission approved LOT’s restructuring plan which could see it receive a further €200m ($259m) of state aid.

LOT attributes its positive results to changes including the launch of its “economy simple” tariff (reducing ticket prices by 30 per cent); its “economy plus” class and the entry into service of the 787.

TAGS: Europe
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish