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LOT Polish Airlines to Get €631m in State Aid

MIAMI – LOT Polish Airlines (LO) is about to receive state financial aid amid COVID-induced losses in passenger traffic and revenue, Polish website The First News reported on December 17.

As stated in the report, with information from Business Insider, “LOT will receive PLN 2.8bn (€631.4m) in an aid tranche, of which PLN 1bn (€225.5m) is to be allocated to increasing the company’s share capital,” while “another PLN 1.8bn (€405.9m) will be allocated from the Polish Development Fund for a liquidity loan.”

Due to the slump in travel demand, LO has carried four times less passengers onboard its airplanes than the read more ⇒

Source:: “Airways Magazine”

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