apruzesse13
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LOT Bankrupt But Still Take Delivery Of New E195

Wed Feb 27, 2013 7:07 am

 
JU068
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LOT Bankrupt But Still Take Delivery Of New E195

Wed Feb 27, 2013 7:14 am

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.
 
apruzesse13
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LOT Bankrupt But Still Take Delivery Of New E195

Wed Feb 27, 2013 7:29 am

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
 
JU068
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LOT Bankrupt But Still Take Delivery Of New E195

Wed Feb 27, 2013 7:46 am

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.
 
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Buyantukhaa
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LOT Bankrupt But Still Take Delivery Of New E195

Wed Feb 27, 2013 8:53 am

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.
 
Danny
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LOT Bankrupt But Still Take Delivery Of New E195

Wed Feb 27, 2013 2:51 pm

LOT is not bankrupt (at least not yet).
 
peterinlisbon
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LOT Bankrupt But Still Take Delivery Of New E195

Wed Feb 27, 2013 4:57 pm

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.
 
ThomasCook
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LOT Bankrupt But Still Take Delivery Of New E195

Wed Feb 27, 2013 5:12 pm

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
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lightsaber
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LOT Bankrupt But Still Take Delivery Of New E195

Thu Feb 28, 2013 2:39 am

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
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LO231
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LOT Bankrupt But Still Take Delivery Of New E195

Mon Mar 04, 2013 9:39 pm

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
 
BestWestern
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LOT Bankrupt But Still Take Delivery Of New E195

Mon Mar 04, 2013 9:59 pm

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.
You are 100 times more likely to catch a cold on a flight than an average person!
 
MaverickM11
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LOT Bankrupt But Still Take Delivery Of New E195

Mon Mar 04, 2013 10:19 pm

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
 
JU068
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LOT Bankrupt But Still Take Delivery Of New E195

Mon Mar 04, 2013 10:23 pm

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.
 
LO231
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LOT Bankrupt But Still Take Delivery Of New E195

Wed Mar 06, 2013 6:51 am

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
 
BestWestern
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RE: LOT Bankrupt But Still Take Delivery Of New E195

Wed Mar 06, 2013 10:03 am

Quoting JU068 (Reply 12):

And without the short haul network, there will be no long haul feed.
You are 100 times more likely to catch a cold on a flight than an average person!