LOT Polish Airlines is nearing insolvency, Management Board President Sebastian Mikosz was quoted as saying by the Warsaw Business Journal and Rzeczpospolita, which reported that the auditor is unwilling to sign off on the airline's accounts and that its survival is uncertain. It lost €155 million ($203.8 million) last year and reportedly does not have the cash to pay its bills. Mikosz said layoffs will be necessary and that new investment or acquisition by a competitor are the most ...

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