Friday, February 29, 2008

LOT Polish airlines' chair resigns

Chairman of the board of the Polish national carrier Piotr Siennicki resigned from his post, and board accepted his decision. Two other board members have been fired. There will be a new chair chosen in an open contest, while for now a 2-person board appointed an interim chair - Dariusz Nowak. He is a member of EUROCONTROL Audit Board - an international organization dealing with safety of air traffic. He was earlier a partner in Pricewaterhouse Coopers in Poland, UK and Luxemburg.

Polish treasure ministry has given a green light for LOT's privatization. Aleksander Grad said LOT Polish Airlines are ready to seek an investor, who would buy out the stocks of the airline, chich are to be put on sale at Warsaw Stock Exchange later this year.

While LOT's low-cost susidiary Centralwings is said to be close to bankruptcy. Director of Centralwings Waldemar Krolikowski has admitted that his airline is not in a good position to compete against a growing number of foreign cheap carriers. He is expected to present the situation of the company and scenarios to improve the situation of the company at the next Supervisory Board meeting.

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