LOT (Polish Airlines) headed for a crash?

Happymeal 7 | 35

13 May 2009 / #1

LOT headed for a crash?
Warsaw Business Journal
The embattled airline is reportedly close to bankruptcy after reports of massive losses.

Although official figures have not yet been released, Rzeczpospolita claimed last week that LOT recorded massive losses last year. According to the daily, in 2008 the airline incurred losses in excess of zł.700 million, with misguided hedging on fuel prices alone accounting for zł.300 million. The firm is apparently also unable to pay invoices because it has no money, and it is being refused bank credit.

This is NOT looking good :(...

I sure do hope that the tickets i purchased for my Family vacation to Poland this summer will still be good.

jazzvibes - | 7

13 May 2009 / #2

This is NOT looking good :(...

Hopefully it's gonna look better than that

Harry

13 May 2009 / #3

I sure do hope that the tickets i purchased for my Family vacation to Poland this summer will still be good.

They will most certainly be good. I can't say more because I work for a company which is involved in the LOT saga but you certainly won't lose the money you spent on those tickets.

benszymanski 8 | 465

13 May 2009 / #4

I am sure the Polish government would prop them up just like the Italian government propped up air italia recently if anything happened....

magdalenaG 2 | 67

13 May 2009 / #5

they've hedged on fuel prices for the next three years at $140 a barrell !! , so this years losses are just the tip of the iceberg..

Mattewoflv - | 8

14 May 2009 / #6

lol there will always be a polish airline.

If LOT goes bankrupt then someone else will buy them

OP Happymeal 7 | 35

28 May 2009 / #7

Lufthansa reportedly eyes LOT, Poland downplays

reuters.com/article/innovationNews/idUSTRE54Q3NI20090527

FRANKFURT (Reuters) - The Polish government poured cold water on a report on Wednesday that Deutsche Lufthansa (LHAG.DE) was in talks to buy a stake in Polish airline LOT LOT.UL from the government in Warsaw.

"The privatization process has not started yet," a spokesman for the Polish treasury ministry said.

Lotnik767 3 | 145

29 May 2009 / #8

LOT will survive this turbulent time with out an investor! They have new planes coming in this summer so they should do okay! But they really should work on their fuel charge and get it reduced! This is a fault of polish government PO that wants to hurt LOT so they could make it private owned! I hope to GOD that LOT will make it out and that Lufthansa doesn’t buy them. Why does every thing Polish have to become German? Germany destroys and makes polish product worse every time they invest or buy Polish product! STOP the GERMAN Buy-OUT of Polish property and people! Say no to Germany!!!!!!!