Poland talks to Air China for LOT stake

Sale of a 49% stake could save Polish carrier
The Polish government has launched talks with Air China for the sale of a 49% stake in struggling state-owned carrier LOT Polish Airlines.
After years of losses and restructuring, the airline expects a profit from core operations for the first half of 2016 of PLN 30 million (€6.8 million). This puts Warsaw in a better position to attract a strategic investor.
The ruling Law and Justice party is generally against privatisation, but officials admit that finding an investor is needed to secure LOT’s survival. Media are speculating that the minority stake may be valued at around $100 million, based on an earlier independent valuation.
While Air China is opening a route to Warsaw from Beijing in September, LOT would like to expand its current Chinese routes to include at least one city other than Beijing.
bne Intellinews


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