Warsaw (Puls Biznesu) – The Ministry of the Treasure wants to sell Centralwings. The low-cost carrier may be listed on the Warsaw Stock Exchange.
Ireneusz Dabrowski, the deputy Minister of the Treasure would like to sell Centralwings, the low-cost carrier owned by LOT flag carrier. The company may be listed. Before, however, LOT will have its IPO.
“We plan to do it next year. The Ministry of the Treasure wants to keep a controlling stake. This solution should be advantageous for LOT bankruptcy officer”, Ireneusz Dąbrowski said.
After LOT is listed, the ministry will take care of Centralwings.
“There are offers from investors interested in acquiring this company so it may be sold”, Ireneusz Dabrowski said.
However, Ryanair will not be offered the low-cost carrier.
“Centralwings is supposed to compete with this company”, the deputy Minister explained.
Centralwings plans its breakeven in 2008. In November 2005, the low-cost carrier was evaluated at PLN 300m (EUR 78.6m). Two years since it launched operations, Centralwings it third largest low-cost carrier with 17 percent on the market and the fourth biggest airline (7.01 percent). It is a leading charter airline (33 percent of the market). LOT and Centralwings have 42 percent of the Polish market.
(PLN 1 = EUR 0.262)