Poland/Enterprises/Aviation
Warsaw (Puls Biznesu) – The management of Airpolonia, the first and so far the only Polish low cost carrier, has been replaced by Irishmen from Crescent Venture Partners, the fund that had invested in the airline.
Apart from Jan Litwinski, the CEO, and formerly the CEO of LOT Polish Airlines, the four-person management has been fired. Now, the management consists of one person, and there are five directors under the CEO. ‘This change was necessary, Airpolonia does not need so many deputy CEOs’, Conor McCarthy, PlaneConsult.com CEO, a subsidiary of Crescent Venture Partners explained.
The new CFO and IT officer is an Irishman Barry Walsh. The final entrance of the Irish fund to Airpolonia is just a matter of time. The Irishmen are in fact heading the company. The capital injection from the fund will amount to a dozen million US dollars.