CEO of Centralwings low-cost carrier resigns due to losses

APA - Austria Presse Agentur
opublikowano: 17-03-2006, 16:30

Warsaw (Puls Biznesu) – The low-cost carrier owned by LOT, the Polish flag carrier, will have a new CEO. The former resigned because the losses were bigger than planned.

Warsaw (Puls Biznesu) – The low-cost carrier owned by LOT, the Polish flag carrier, will have a new CEO. The former resigned because the losses were bigger than planned.

 

Piotr Kociolek, Centralwings CEO resigned. The official explanation are personal reasons. He made the decision after the GSM held last Tuesday. The GSM decided that the carrier would continue operations. However, there are more and more controversies over the airline.

“According to the business plan, the company should have PLN 42m (EUR 10.9m) of net loss in 2005. It had PLN 59m of loss”, Leszek Chorzewski, the spokesman of LOT said.

LOT owns 100 percent of Centralwings. The low-cost carrier has PLN 5m of capital. It should break-even in 2008.

 

Another reason for the conflict in the group is competition, e.g. on the flights to Milan.

“The group should cooperate and not compete”, Leszek Chorzewski stressed.

The new CEO for Centralwings will be chosen after the new head of LOT is appointed. The candidates for the latter post will be presented on March 22. This is the second time that the airline is trying to choose the CEO. In the first process, the supervisory board did not accept any of ten proposals.

(PLN 1 = EUR 0.261)

 

 

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Podpis: APA - Austria Presse Agentur

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