Poland starts aviation group to capitalize on air travel

WARSAW, Poland — Poland has created a new aviation company based on the national airline, LOT, that aims to capitalize on a planned major airport and on the region's growing air travel market.

The state-owned Polish Aviation Group has initial capital of 1.2 billion zlotys ($350 million) and brings together LOT and providers of technical and passenger services. The move is intended to help the company compete globally.

Government officials say that the company will be acquiring and leasing out more aircraft in order to help further develop air travel in Central and Eastern Europe.

A major airport is due to be built near the capital, Warsaw, primarily serving the soaring traffic with China.

The decision strengthens LOT, which in recent years went through a painful cost-cutting reorganization to avert bankruptcy. The rescue plan was accepted by the European Commission in 2014.

The head of LOT, Rafal Milczarski, is the chairman of the new group's board of directors.

Related News

Hawaii authorities urge awareness of raw food risk

Aug 17, 2016

Hawaii authorities are urging diners to be aware of the risks of eating raw and undercooked food after they traced a hepatitis A outbreak to frozen scallops served raw at a sushi restaurant chain

Are France's burkini bans sexist, or liberating?

Aug 17, 2016

Male officials are dictating what women can wear on French beaches _ and people across a wide swath of French society say that's a good thing

Target cuts outlook as it sees fewer customers in stores

Aug 17, 2016

Target cut its profit forecast and a key sales outlook amid stiffer competition and its own stumbles in areas like groceries

Broaden News

Travel Stylo is an independent online travel website started by a group of friends who love traveling together. With Travel Stylo, you can travel with style.

Contact us: sales@travelstylo.com