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LOT Bids for Smartwings

ByMarek Gizmajer

LOT Polish Airlines are interested in buying the biggest Czech airline Smartwings. The other two bidders are Eurowings (Germany) and SunExpress (Turkey) after Smartwings majority owner Jiri Simane abandoned negotiations with Israir (Israel) because of political upheavals in the Middle East. He wants to take advantage of the current good trends and sell the company in full or in part, however remaining on the aviation market. After many years of disputes and misunderstandings his Czech holding bought 49.9% of shares in Smartwings from Chinese companies, which apparently blocked the sale. Smartwings established in 1997 and based in Prague operate 37 Boeings 737 in various versions. In 2023 they earned € 40 m EBITDA. LOT is developing rapidly. Now it operates 76 airplanes, has already ordered 11 Boeings 737 Max and has sent inquiries to Airbus and Embrarer concerning purchase of 84 other planes.

Marek Gizmajer

High-tech journalist

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