Centralwings low-cost airline has four ways to go

APA - Austria Presse Agentur
30-11-2006, 19:49

Warsaw (Puls Biznesu) – LOT CEO received four scenarios for its low-cost airline.

Warsaw (Puls Biznesu) – LOT CEO received four scenarios for its low-cost airline.

Tomasz Dembski, the temporary CEO of LOT Polish flag carrier, received several days ago a memorandum concerning Centralwings. The low-cost carrier owned by LOT, defends its position. It says that it is accused for taking the market out of LOT. It explains that “this would take place anyway but it would be the other low-cost carriers who would take the market share. Meanwhile it was one of Centralwings’s main aims to fight on the no-frills market”. The document explains that there are not many companies in the world which are profitable within 1-2 years. The strategic plan of Centralwings provides for profitability at the end of 2008. In November 2005, the value of the company was evaluated at PLN 300m (EUR 78.6m)

 

There are four possible ways for Centralwings proposed. The first one provides for further development of Centralwings. It would need founding a separate budget for the low-cost with a possibility for Polish institutional investors or foreign companies specializing in the airline industry to buy a stake. The second option consists in selling Centralwings to another entity. The third one provides for a merger of Centralwings with a stronger low-cost. The fourth one consists in incorporating Centralwings into LOT.

(PLN 1 = EUR 0.262)

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Podpis: APA - Austria Presse Agentur

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