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Poland's LOT airline working on rescue plan

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[February 22, 2013]  WARSAW, Poland (AP) -- A spokesman for Poland's LOT airline says that the company will present its last-chance survival plan of layoffs and restructuring next month after the government indicated that there will be no more money for the lossmaking state-owned company.

The latest blow for the airline has been the grounding since Jan. 16 of its two Boeing 787 Dreamliners, which has cost the company 8 million zlotys ($2.5 million) so far. In 2012 LOT suffered losses of 157 million zlotys, chiefly due to high fuel prices.

LOT spokesman Marek Klucinski said Friday that the rescue plan will be presented March 20 and will include layoffs and restructuring of the company and its routes.

Prime Minister Donald Tusk has warned the government will not try to save LOT "at all cost."

[Associated Press]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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