Tuesday, April 28, 2009
LOT going down?
According to "Rzeczpospolita" the last year brought the Poland's national carrier 700 million zł of net loss. It is 200 million more than previously expected. About 300 million zł were attributed to the unfavorable fuel hedging contracts.
Sebastian Mikosz, acting CEO of PLL LOT, admitted that the lay-offs are inevitable, while the staff already braces for strikes. These will put LOT evenb closer to bankruptcy. According to aviation experts, if LOT's planes should be grounded, the airline will have no more than two weeks to live.
On the other hand LOT has to be considered as a big, stable company, with a lot of property and high potential. It is just managed badly. The official results for 2008 have not yet been revealed.
The picture shows an example of a billboard that boasts with airline's 80th anniversary and offers cheap ticket deals.