LOT Polish Airlines (Warsaw), because of its continued financial losses, is going to shrink in size according to this report by the Wall Street Journal. The carrier is phasing out its Boeing 737s and 767s. The Polish government, which controls 93 percent of the stock, issued $127 million in emergency loans to the struggling state carrier on December 21 to keep it out of bankruptcy. This loan, which may still be deemed illegal state aid by the European Commission, is keeping the airline aloft. The Polish government is restructuring the airline and only the most profitable routes will be kept. One half of the fleet is expected to be returned to the lessors according to the article.
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Copyright Photo: Terry Wade. LOT is proud to be the first operator of the Boeing 787 Dreamliner in Europe but will it be able to continue to operate the new type? The 787 is planned to be assigned to the carrier’s long-range routes if those routes can be maintained with the restructuring. The first 787-8, SP-LRA (msn 35938) prepares to touch down at London (Heathrow) on its first visit.