30.04.2009 19:20
Poland - LOT could soon crash land into bankruptcy
PLL LOT will incur a record high loss and the auditor is not willing to sign the annual balance sheet, as he is uncertain whether the airline will survive another year. The firm was more than zł.700 million in the red in 2008, of which over zł.300 million was due to unwise transactions securing the price of fuels.
LOT is now not paying most of its invoices as it has no funds, while banks refuse to provide further loans.
