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British Airways are to acquire LOT

British Airways are to acquire LOT
British Airways are to acquire LOT

A number of Polish media reported on December 20, 2010 about the possible purchase of the Polish airline LOT by the largest air carrier in Britain British Airways. In particular, the message about the possible sale of LOT to the Britons published the Polish newspaper Rzeczpospolita.

Currently Polish authorities are preparing a project on the privatization of LOT. The airline is still the property of the state. LOT should be privatized in 2011. According to the present head of the airline, Marcin Pirog, among the possible buyers of the company in addition to the British Airways and German Lufthansa is also interested in the Eastern European market Turkish Airlines.

To date LOT is working closely with the German airline Lufthansa as part of one of the world's largest air alliances Star Alliance. Nevertheless, Lufthansa declined to act as the main buyer of the Polish airline 3 years ago. Its current status of the buyer looks even more controversially, because not so long ago Lufthansa has already bought several airlines including one of the leading carriers in Eastern Europe - Austrian Airlines.

As for the Turkish Airlines, here the purchase of LOT is also questionable. The Turks, who are obviously interested in purchasing LOT, cannot act as full owners of the air company. Under the EU laws the country outside the European Union has the right to acquire only a 25% stake in the airline from the EU.

The fact that British Airways may act as the main investor, was reported by Rzeczpospolita citing plans of the head of the British airline Willie Walsh, announced in September 2010. Then it was reported that British Airways plans to create Europe's largest air alliance from dozens of airlines. For example, British Airways recently bought Spanish airline Iberia. However, the initial list of acquisitions, which included 40 airlines, was later reduced to 12. It is unknown whether the LOT is included in these 12.

Flights of LOT connect the Polish cities with the leading European and world capitals. LOT, founded in 1929, today is one of the largest airlines in Eastern Europe.

Date: 23/12/2010

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