LOT Polish Airlines warns of cash crisis

LOT Polish Airlines said this week that it will need to restructure as quickly as possible to avoid a cash crisis. LOT has gone through five CEOs in the last five years under changing Polish governments, hindering its ability to make long-term strategic decisions over the period. "It is a wonder that this company still exists," a carrier executive told this website. The government controls 68% of LOT and wants to float its stake in early 2009. CEO Dariusz Nowak has said the restructuring is ...