Air China eyes 49% stake in LOT Polish Airlines
Chinese flagship carrier Air China is interested in buying 49% stake in Poland's national carrier LOT Polish Airlines, according to Polish newspaper Rzeczpospolita.
Analysts value the transaction at USD 100 million, according to the newspaper.
A delegation of Chinese airline will come to Warsaw in a few days to talk on the transaction with representatives of the Ministry of Treasury, the source said.
As reported by Rzeczpospolita, LOT wants to grow in Asia, primarily in China, and fly to another Chinese city outside Beijing (talk about Hong Kong and Chengdu).
Meanwhile, Air China is looking for a European foothold, and it wants to open a connection to Warsaw. The deal seems to be so beneficial to both sides.
Update August 5: The Polish flag carrier denied press reports that its Chinese counterpart Air China is considering taking a 49% stake in the eastern European airline. A LOT spokesman told ATW that any link with Air China would be “simply commercial cooperation.”
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