Staff to be cut by 30%, fleet from 40 to 25 planes
After managing to get a $127 million emergency loan from the government in December so it can continue operations, LOT Polish Airlines will now have to sell assets and cut jobs. According to a Wall Street Journal Europe report, the Polish government – which owns 93% of the flag carrier – wants to slash staff numbers by 30% and cut the fleet from 40 to just 25 aircraft, returning them to leasing companies.
A LOT management source tells ATW that an announcement about the full details of the downsizing is expected in the coming days.
The Star Alliance member has been searching for investors for years, but without much success. The most recent interest came from Turkish Airlines, but talks appeared to lead nowhere. Polish Prime Minister Donald Tusk had made it clear that the state will not try to save the national airline at any cost.
[photo courtesy Star Alliance]