LOT to axe routes, sell Embraers, lease out two 787s as part of cuts
17JUN2013
LOT Polish Airlines (LO, Warsaw Chopin) is reportedly planning to drop flights from Warsaw Chopin to Athens Int'l, Helsinki Vantaa, Zurich, Cairo Int'l, Beirut, Barcelona El Prat, Berlin Tegel and Dusseldorf Int'l as early as fall, as part of conditions the European Commission has attached to the Polish Government's planned USD133million (EUR100million) bailout. In addition, the airline plans to reduce the number of frequencies it operates each year by 25% with LOT's workforce to be reduced by 800; flight crew and administrative staff included. Fleetwise, fifteen Embraer (São José dos Campos) jets (type unspecified) will be withdrawn from service while two of the airline's six B787-8s will be leased out. Having recently suffered a net loss of USD126.15million (PLN400million) for its 2012/13 Financial Year, Warsaw plans to return LOT to profitability by 2015 at the latest as part of long term plans to privatize the airline completely.
Air Berlin, BA, Singapore Airlines all contenders for a stake in LOT
12JUN2013
Air Berlin (AB, Berlin Tegel) has emerged as the strongest potential buyer for a majority stake in Poland's troubled flag carrier LOT Polish Airlines (LO, Warsaw Chopin), Polish paper, Puls Biznesu, has reported. British Airways (BA, London Heathrow) and Singapore Airlines (SQ, Singapore Changi) were also said to have shown an interest in starting talks. No further details on the outcome of discussions have been divulged. According to the article, Warsaw is now mulling the possibility of providing more public aid to the airline in the form of a EUR90million (PLN400million) loan, needed to help keep it afloat while a potential buyer is sought. Norwegian (DY, Oslo Gardermoen) was also rumoured at one stage to have been informally approached by the Poles regarding LOT's future.