Turkish Airlines expresses interest in LOT, JAT buys

Turkish Airlines CEO Temel Kotil said his company has a growing interest in taking over LOT Polish Airlines. "Yes I want to buy LOT," he told the Polish daily Rzeczpospolita. The Polish government, which currently owns 68% of LOT, is believed to have asked THY previously to make a major investment (ATWOnline, March 8).

Kotil said the acquisition is being held up because LOT is undergoing a restructuring process that needs to be further along before a merger can occur. "But in [Eastern Europe there] is space for consolidation and [THY] doesn't want to miss its opportunity," he said in relation to a possible takeover. He said THY plans to increase its cooperation with LOT in the meantime and when the strategic investment becomes possible it wants to develop Warsaw as a hub. He told this website last week that he is also in talks with JAT Serbia Airlines about a possible merger. THY bought 49% of Air Bosnia in December 2008.