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EU Approves LOT Polish Airlines Rescue Loan

The European Commission Wednesday approved a rescue loan LOT Polish Airlines received in December, shoring up the near-term future of the troubled carrier as it readies to put its Boeing 787 Dreamliner aircraft back into service.The Polish government, which controls LOT, gave a loan of about $127 million to keep the Polish national airline afloat. Warsaw is also planning to sell a controlling stake in the airline though previous attempts have come to nothing.LOT has made heavy losses in recent years, with a near-disastrous fuel-hedging strategy putting it on the brink of bankruptcy in 2008. Since then, strong competition for Polish passengers from rival European airlines, particularly discount carriers like Ryanair Holdings PLC (RYA.LN), and disputes with its own trade unions, opposed to deeper job cuts, all amid high fuel prices, have combined to undermine the airline's finances. LOT faced a collapse again in late 2012.The European Commission said the loan LOT received last year was i...

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  1. Lufthansa's personnel director to step down: paper

    Deutsche Lufthansa's board member responsible for personnel, Stefan Lauer, will leave the airline at the end of June, newspaper Frankfurter Allgemeine Zeitung said o...

  2. Ryanair CEO Says Airline Got Good Price With Boeing Despite No Rival Airbus Talks

    Ryanair Holdings PLC's (RYAAY) Chief Executive Michael O'Leary Tuesday said the discount cost airline is paying a similar price for the 175 Next Generation 737-800 a...

  3. Lion Air Orders 234 Planes with Airbus

    Indonesian low cost airline Lion Air Monday placed an order for 234 A320 jets with Airbus, the largest single order the European plane maker has ever received.The co...

  4. Airbus Sells 234 Planes to Lion Air in $24B Deal

    Airbus agreed on Monday to sell 234 A320 jets to Lion Air, an Indonesian discount airline, in a $24 billion deal.The jet sale, which is the largest single order ever...

  5. Turkish Airlines Plans to Buy 117 Planes From Airbus Through 2020

    Turkey's national carrier Turkish Airlines announced plans to buy 117 jets from European aircraft maker Airbus from 2015 through 2020 as the carrier seeks to nearly ...

  6. Turkish Air's Plan to Buy Airbus Jetliners Called Off -Report

    A major purchase of Airbus jetliners by Turkish Airlines (THYAO.IS) has been called off, at least for the moment, according to German magazine Focus on Saturday.Turk...

  7. Turkish Airlines still in talks over big aircraft order

    Turkish Airlines is still in negotiations for an order for over 100 aircraft, a spokesman said, after a German report that a deal with Airbus had not come off during...

  8. Would an American Airlines-US Airways Merger Be Bad for Travelers?

    Zimmerman Advertising founder Jordan Zimmerman and AirfareWatchdog.com’s George Hobica on how the potential merger between American Airlines and US Airways would impact flyers.

  9. Airbus Gets Two Firm Orders for A330 From Turkish Airlines

    Airbus said Monday that Turkish Airlines has signed a firm order for two additional A330 passenger aircraft and three options, taking its total order for the aircraf...

  10. Turkish Airlines To Buy Two Aircraft from Airbus

    Turkish Airlines (THYAO.IS), the world's fastest-growing carrier, said Friday it is buying A330-300 planes from Airbus to meet its wide-body aircraft needs as it see...

  11. Turkey to Start Third Istanbul Airport Tender Next Week

    Turkey will start the tender process to build a third airport in Istanbul as the government seeks to transform the country's biggest city into a regional hub and aid...

  12. Turkish Airlines in Talks with Boeing, Airbus About Jet Purchases

    Turkish Airlines, the world's fastest-growing large carrier, is in talks with U.S. plane maker Boeing Co. (BA) and its European rival Airbus to buy additional planes...

  1. Boeing, Turkish Air Ink $7B 737 Deal

    Boeing (NYSE:BA) struck a nearly $7 billion airplane deal with Turkish Airlines on Tuesday for 70 aircraft from its family of 737s, marking the biggest-ever deal bet...

  2. Turkish Orders Swell Airbus Order Book in April

    Airbus, the commercial aircraft arm of European Aeronautic, Defence & Space Co. (EAD.FR), said Tuesday it had booked orders for 83 aircraft in April, almost entirely...

  3. Turkish Airlines Union Representing 90% of Employees to Strike May 15

    Turkish Airlines employees said Friday they will go on strike May 15, citing disagreements over pay in talks on a new labor agreement and the flag carrier's refusal ...

  4. Airbus CEO says may increase production in Turkey

    EADS unit Airbus is considering increasing production in Turkey and plans to double its spending in the country from last year's $74 million "very soon", its chief e...

  5. Turkish Airlines May Strike Next Month

    Turkish Airlines' workers on Wednesday threatened a full-scale strike if the carrier doesn't meet demands that include reinstating workers who were fired for taking ...

  6. Turkish Airlines to Buy Up to 95 Planes from Boeing

    Turkish Airlines, the world's fastest-growing large carrier, plans to buy up to 95 planes from U.S. aircraft maker Boeing Co. (BA) from 2016 through 2021, as it seek...

  7. Turkish Airlines Staff Plan to Strike Over Dismissals -Union

    Turkish Airlines, the world's fastest growing large carrier, is facing a strike by a union representing almost 90% of the flag bearer's employees, who plan to halt o...

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