eu clears state aid for ailing polish carrier lot
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

EU clears state aid for ailing Polish carrier LOT

Arab Today, arab today

Arab Today, arab today EU clears state aid for ailing Polish carrier LOT

carrier LOT
Brussels - SPA

The European Union's antitrust authority on Tuesday approved the Polish government's 200 million-euro ($270 million) bailout for its ailing national carrier, LOT airlines, AP reported.
The 28-nation bloc's executive Commission said the assistance does not violate EU rules limiting state aid to businesses since it will 'allow the company to become viable in the long-term without unduly distorting competition.'
Star Alliance member LOT has been in financial difficulty for several years. In May 2013, the EU approved a 100 million-euro government rescue loan in exchange for a restructuring plan meant to offset any competitive advantage. In the plan, the airline discontinued some profitable routes and reduced capacity to trim costs. Poland then proposed the 200 million-euro capital injection to help LOT regain its long-term viability by 2015.
EU antitrust chief Joaquin Almunia said LOT's 'restructuring plan should make it a viable company in the near future.'
The airline's CEO, Sebastian Mikosz, said it was a 'very important day for LOT.'
He said the restructuring plan ensured the airline's longer-term survival by cutting costs and improving revenues, allowing LOT to register a net profit in 2013 - the first in years.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

eu clears state aid for ailing polish carrier lot eu clears state aid for ailing polish carrier lot

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

eu clears state aid for ailing polish carrier lot eu clears state aid for ailing polish carrier lot

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday