Sponsor Message:
Civil Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
LOT Bankrupt But Still Take Delivery Of New E195  
User currently offlineapruzesse13 From Ukraine, joined Dec 2012, 51 posts, RR: 0
Posted (1 year 10 months 3 days 20 hours ago) and read 12626 times:

http://www.skyliner-aviation.de/regdb.main?LC=nav4&page=4

How do they find willing banks?

14 replies: All unread, jump to last
 
User currently offlineJU068 From Vanuatu, joined Aug 2009, 2794 posts, RR: 6
Reply 1, posted (1 year 10 months 3 days 20 hours ago) and read 12597 times:
Support Airliners.net - become a First Class Member!

If I am not mistaken the European Union approved a rescue package from the Polish government to the airline. However, LOT has to restructure and lose some of its workforce.

User currently offlineapruzesse13 From Ukraine, joined Dec 2012, 51 posts, RR: 0
Reply 2, posted (1 year 10 months 3 days 20 hours ago) and read 12494 times:

Quoting JU068 (Reply 1):
If I am not mistaken the European Union approved a rescue package from the Polish government to the airline. However, LOT has to restructure and lose some of its workforce.

1.European Union is currently investigating the compatibility of the rescue loan with EU rules

2. The loan is an emergency cash injection-albeit significant- but can in no way reassure a bank financing an aircraft over 15 years that such money-loosing company like LOT will still pay its debt in 2 years time


User currently offlineJU068 From Vanuatu, joined Aug 2009, 2794 posts, RR: 6
Reply 3, posted (1 year 10 months 3 days 20 hours ago) and read 12392 times:
Support Airliners.net - become a First Class Member!

Quoting apruzesse13 (Reply 2):
1.European Union is currently investigating the compatibility of the rescue loan with EU rules

I think the European Union is done with the investigation and that it said it was in line with EU regulations. Currently airBaltic and Adria are under investigation.



Quoting apruzesse13 (Reply 2):
2. The loan is an emergency cash injection-albeit significant- but can in no way reassure a bank financing an aircraft over 15 years that such money-loosing company like LOT will still pay its debt in 2 years time

Well I am sure that the Polish government is guaranteeing the payment, otherwise it would have been too risky.


User currently offlineBuyantUkhaa From Mongolia, joined May 2004, 2915 posts, RR: 3
Reply 4, posted (1 year 10 months 3 days 19 hours ago) and read 12103 times:

Quoting JU068 (Reply 3):
I think the European Union is done with the investigation and that it said it was in line with EU regulations. Currently airBaltic and Adria are under investigation.

That was the sell-off of some company entities to other state-owned bodies: http://europa.eu/rapid/press-release_IP-12-1243_en.htm

The rescue loan is a different one, this happened Dec 21st, and the EC is still to rule on it.



I scratch my head, therefore I am.
User currently offlineDanny From Poland, joined Apr 2002, 3516 posts, RR: 3
Reply 5, posted (1 year 10 months 3 days 13 hours ago) and read 11311 times:

LOT is not bankrupt (at least not yet).

User currently offlinepeterinlisbon From Portugal, joined Jan 2006, 625 posts, RR: 0
Reply 6, posted (1 year 10 months 3 days 11 hours ago) and read 9811 times:

It's great that we have the EU to help ensure that our national airlines go bankrupt, I bet the Hungarians are very glad they joined.

User currently offlineThomasCook From United Kingdom, joined Aug 2004, 797 posts, RR: 8
Reply 7, posted (1 year 10 months 3 days 10 hours ago) and read 9596 times:

The only people who would benefit from the EU ruling against aid for LOT are Ryanair and Wizzair. The Polish economy and people certainly would not benefit in any way shape form. It is in Poland's very best interests to ensure LOT remain the national carrier and maintain direct links to America and Canada.

ThomasCook



A380 Crew
User currently offlinelightsaber From United States of America, joined Jan 2005, 13552 posts, RR: 100
Reply 8, posted (1 year 10 months 3 days 1 hour ago) and read 4728 times:
Support Airliners.net - become a First Class Member!

Normally I am against government intervention. However, with restructuring, I see a 'business case' for the Polish government to rescue LOT assuming they do reorganize (unlike certain other airlines that always re-subsidize).

Quoting ThomasCook (Reply 7):
The only people who would benefit from the EU ruling against aid for LOT are Ryanair and Wizzair. The Polish economy and people certainly would not benefit in any way shape form. It is in Poland's very best interests to ensure LOT remain the national carrier and maintain direct links to America and Canada.

The links would be replaced on long haul. I see more of the value in LOT domestic and regional by creating connections that enable business in Poland.

Lightsaber



Societies that achieve a critical mass of ideas achieve self sustaining growth; others stagnate.
User currently offlineLO231 From Belgium, joined Sep 2004, 2392 posts, RR: 22
Reply 9, posted (1 year 9 months 4 weeks 6 hours ago) and read 2913 times:

Quoting ThomasCook (Reply 7):

I need to visit my brother in Warsaw in July. Ryanair and Wizz from BRU/CRL are more expensive by 1 EUR than LO.....

And one question, I fly with E95. Return is on 734, I thought they gave up shorthaul Boeing fleet for Embraer?

Regards,

LO 231



Got both LO 788 frames already, next LO E95 and 734 BRU-WAW-BRU
User currently offlineBestWestern From Hong Kong, joined Sep 2000, 7313 posts, RR: 57
Reply 10, posted (1 year 9 months 4 weeks 6 hours ago) and read 2825 times:

Quoting lightsaber (Reply 8):
I see a 'business case' for the Polish government to rescue LOT assuming they do reorganize (unlike certain other airlines that always re-subsidize).

LO have re-organised plenty of times. They have a new CEO each year, and a new plan every two years.

Until LOT really decides what they are as an airline, they have no future.



The world is really getting smaller these days
User currently offlineMaverickM11 From United States of America, joined Apr 2000, 17829 posts, RR: 46
Reply 11, posted (1 year 9 months 4 weeks 5 hours ago) and read 2762 times:

Quoting lightsaber (Reply 8):

The links would be replaced on long haul.

Would they? How are those long haul flights coming at BUD? If LO were to go away, which I doubt will happen, I don't see anyone backfilling the longhaul flying. Maybe the odd TS seasonal nonstop...



E pur si muove -Galileo
User currently offlineJU068 From Vanuatu, joined Aug 2009, 2794 posts, RR: 6
Reply 12, posted (1 year 9 months 4 weeks 5 hours ago) and read 2747 times:
Support Airliners.net - become a First Class Member!

Quoting MaverickM11 (Reply 11):

Not to mention that unlike Hungary, Poland is decentralized so long haul out of Warsaw were possible to this extent only because of LOT's network.


User currently offlineLO231 From Belgium, joined Sep 2004, 2392 posts, RR: 22
Reply 13, posted (1 year 9 months 3 weeks 5 days 21 hours ago) and read 2296 times:

Quoting lightsaber (Reply 8):

You mean LO being next LH Regional?



Got both LO 788 frames already, next LO E95 and 734 BRU-WAW-BRU
User currently offlineBestWestern From Hong Kong, joined Sep 2000, 7313 posts, RR: 57
Reply 14, posted (1 year 9 months 3 weeks 5 days 18 hours ago) and read 2153 times:

Quoting JU068 (Reply 12):

And without the short haul network, there will be no long haul feed.



The world is really getting smaller these days
Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
MEA To Take Delivery Of 2 More Aircraft This Year posted Wed May 9 2012 05:36:42 by raffik
Cargolux To Not Take Delivery Of 747-8F On Monday posted Fri Sep 16 2011 12:46:06 by QANTAS747-438
Will US Airways Take Delivery Of The A318? posted Tue Aug 14 2007 08:58:08 by Columba
AI To Take Delivery Of 777's In Late June posted Thu May 17 2007 15:00:28 by Cricket
Did Piedmont Take Delivery Of These Planes posted Wed Apr 18 2007 23:40:04 by JetJeanes
DL May Take Delivery Of 772LR Two Months From Now! posted Sun Apr 15 2007 22:24:20 by ConcordeBoy
SIA Take Delivery Of 2 777-300er's Tuesday 11-28 posted Sat Nov 25 2006 12:48:45 by UAL747-600
When Will RP Take Delivery Of More 170s? posted Mon Feb 6 2006 22:52:11 by Jdwfloyd
Will AC Now Take Delivery Of 346s? posted Mon Jun 20 2005 14:33:24 by Bmacleod
When Does US/HP Take Delivery Of Their A330 Order? posted Sat Jun 11 2005 02:27:29 by Ballsdeep