Poland confirms talks with Turkish Airlines over stake in LOT

Poland's Treasury Minister, Zdzislaw Gawlik, confirmed talks were ongoing with Turkish Airlines regarding a stake in LOT Polish Airlines (Reuters, 18-May-2010). On Monday, Turkish Airlines announced plans to purchase a stake in LOT with Turkish to first create a joint venture with LOT on selected routes. Last week, the Polish Government announced plans to raise USD2.2 billion from privatisation in 2011, including the sale of the airline.

Polish Government: "We are in touch with Turkish Airlines, negotiations are ongoing concerning the strategy for further talks on LOT's privatisation," Zdzislaw Gawlik, Treasury Minister. Source: Reuters, 18-May-2010.