EC investigates bailout of Polish national airline LOT

 

 

 

 

 

 

 

Plans by the Polish government to bail out the national airline LOT are to be scrutinised by the European Commission, to ensure that they meet competition rules.
The government has pledged 400 million zł, with additional support that could reach a total value of 1 billion złoty, for the ailing airline. LOT asked for help after reporting losses of 145 million in 2011.
However, the government expects job cuts and other savings at the airline in return for assistance. Chief executive Marcin Piróg was the first to go, and has been replaced by Zbigniew Mazur.
The EC confirmed that it was investigating the LOT bail-out, and would make its findings public in around two months.

 

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