It's amazing how financially illiterate most nationalists are.
WTF? Are you about? Don't tell me that you think Morawiecki is a nationalist?
Condor's fleet:
I have no info about it, so I don't have an opinion about that purchase.
Poland economy is a financially drained economy of suppliers?
WTF? Are you about? Don't tell me that you think Morawiecki is a nationalist?
I have no info about it, so I don't have an opinion about that purchase.
delphiandomine 86 | 17823
26 Jan 2020 #32
Condor was almost bankrupt
They essentially are. They have an aging fleet, and LOT were the only aviation company interested. For LOT to underwrite Condor's loans, pensions and employees is financial insanity, which is why there were no serious offers from IAG, Air France - KLM, etc. In short, Condor would have been finished if LOT didn't buy them, which means that its hardly a great purchase.
I don't know - if they paid 250m and that's the l8mit of their exposure then ok. If it's 250m plus pensions on top of that then it's risky.
I will give credit to PiS that they have let LOT recover and it has a nice niche as one of the best networks for Eastern Europe, not just to the capitals and with convenient times, I'm worried this might upset that recovery.
The history of Polish state owned firms investing outside Poland has been fair,y disastrous - Orlen had some big problems in Germany and Czech: KGHM a couple of horror shows too.
I will give credit to PiS that they have let LOT recover and it has a nice niche as one of the best networks for Eastern Europe, not just to the capitals and with convenient times, I'm worried this might upset that recovery.
The history of Polish state owned firms investing outside Poland has been fair,y disastrous - Orlen had some big problems in Germany and Czech: KGHM a couple of horror shows too.