Turkish set to begin talks to acquire LOT

Discussion in 'Other Airlines | Europe' started by Lufthansa Flyer, Jan 22, 2012.  |  Print Topic

  1. Lufthansa Flyer
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    Lufthansa Flyer Gold Member

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    Turkish Airlines Chairman Hamdi Topcu stated today that Turkish is set to begin talks with LOT about acquiring the Polish carrier. I suspect more details when Europe begins its day.
     
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  2. OY-JFS
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    OY-JFS Gold Member

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    Hmm, isn't there a limit to the % of shares that non-EU companies can hold of EU airlines?
     
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  3. Lufthansa Flyer
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    I think they can take a 49% stake which for all intensive purposes will be a controlling stake. There were no details other than the fact that turkish's Chairman said that talks will start very soon
     
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  4. Lufthansa Flyer
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    More on LOT ownership:

    Polish government owns 68% of shares in LOT
    Regionalny Fundusz Gospodarczy S.A. owns 25% (regional economic fund, could be asset mgr)
    employees own 6.93%

    If the Polish goverment divests most of its position, Turkish would become the controlling owner.
     
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  5. TrippePanAM

    TrippePanAM Gold Member

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    This could only improve LOT, which is a substandard carrier and in drastic need of multiple oerhauls
     
  6. Lufthansa Flyer
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    dreamliners are on the way.......
     
  7. TrippePanAM

    TrippePanAM Gold Member

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    for lot?

    I an unimpressed with the dreamliner
     
  8. Lufthansa Flyer
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    Yep, believe it or not, they're set to replace the 767.....
     
  9. OY-JFS
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    And what is TK?

    http://europenews.dk/en/node/50578
     
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  10. Lufthansa Flyer
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    I'm not a huge fan of either, but given the choice I would put choose LOT. There have been too many anecdotes and bad press about the TK pilots. Not sure whether to believe everything I hear, but I'll choose to err on the side of caution. Granted, TK has not had any passenger disasters in recent memory. I'll just make it easy for myself and fly LH. You could eat off the floor in their Technik Maintenance hangers and thats good enough for me! :)
     
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  11. HaveMilesWillTravel
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    Does LOT know that they'll start talking soon? ;)

    Seems very weird to announce that they will start talking soon.
     

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