LOT Aircraft Maintenance Services LS Airport Services
107-567: Polish Aviation Group is Poland's largest aviation company. It was founded in 2018 with an aim to merge Polish companies including LOT Polish Airlines , LOT Aircraft Maintenance Services, LS Airport Services and LS Technics. The group's headquarters are in Warsaw. PGL (Polska Grupa Lotnicza) was formed in January 2018 and consists of LOT Polish Airlines , LOT Aircraft Maintenance Services and LS Airport Services and LS Technics which were merged into
214-803: A state-owned enterprise (Przedsiębiorstwo Państwowe Polskie Linie Lotnicze 'LOT'), which would mainly fly Soviet-built aircraft, owing to the tensions of the Cold War and Poland being a member of the Warsaw Pact . In 1946, seven years after service was first suspended, the airline restarted its operations after receiving ten Soviet-built ex-Air Force Lisunov Li-2 Ts, then further passenger Li-2Ps and nine Douglas C-47s . Both domestic and international services restarted that year, first to Berlin, Paris, Stockholm and Prague . In 1947 there were added routes to Bucharest, Budapest, Belgrad and Copenhagen. Five modern, although troublesome SE.161 Languedoc joined
321-435: A "People's Inquiry into Privatisation" (2016/17) found that the impact of privatisation on communities was negative. The report from the inquiry "Taking Back Control" made a range of recommendations to provide accountability and transparency in the process. The report highlighted privatisation in healthcare, aged care, child care, social services, government departments, electricity, prisons and vocational education featuring
428-671: A Polonez Lounge at Budapest Ferenc Liszt International Airport in 2018. It is an exclusive zone within LOT Business Lounge Polonez where passengers can work peacefully and have rest in a comfort. It includes quiet relaxation zone, place to work and upgraded food and beverage menu. It's a business lounge that offers unique views of the apron. Privatization Privatization (rendered privatisation in British English ) can mean several different things, most commonly referring to moving something from
535-514: A blue tail fin and rudder. The Polish flag was much larger on the tail, while the crane logo was above the flag, on a white circle. There was also another Polish flag on the cheatline, behind the cockpit. On Il-18s and Il-62s, the cheatline was narrower, below the window line. LOT's iconic livery was introduced in 1977 and has undergone no major changes. The livery is essentially a predominantly white scheme with elements of traditional aviation design incorporated. The latter elements were visible in
642-402: A charter flight and a regular flight to New York City in 1973. LOT began service on its first Far East destination – Bangkok via Dubai and Bombay in 1977. In 1977 the airline's current livery (despite occasional changes, notably in corporate typography) designed by Roman Duszek and Andrzej Zbrożek, with the large 'LOT' inscription in blue on the front fuselage , and a blue tailplane
749-435: A codeshare agreement with JetBlue to increase the number of onward connections available to its customers. In July 2012 it was announced that a planned sale of a major stake in the airline to Turkish Airlines would not go ahead. The main problem was the inability of Turkish Airlines to own a majority stake as it is a non- European Union company. Amidst a restructuring plan which saw the airline return to profitability for
856-414: A form of a secured loan and are criticized as a "particularly noxious form of governmental debt". In this interpretation, the upfront payment from the privatization sale corresponds to the principal amount of the loan, while the proceeds from the underlying asset correspond to secured interest payments—the transaction can be considered substantively the same as a secured loan, though it is structured as
963-703: A milestone passengers-carried figure of 3 million customers in one year; such an expansion led to the reconstruction of much of LOT's ground infrastructure, and by 2002 a new central Warsaw head office was opened on Ul. 17 Stycznia. On 26 October 2003, LOT, after the collapse of the Qualiflyer Group , became the 14th member of the Star Alliance . By 2006 a new base of operations, with the reconstruction of Warsaw Chopin Airport , had opened, thus allowing LOT's full transit airline potential to be developed for
1070-753: A more cautious and nuanced evaluation of privatization" and that "private ownership alone is no longer argued to automatically generate economic gains in developing economies". According to a 2008 study published in Annals of Public and Cooperative Economics , liberalization and privatization have produced mixed results. Although typically there are many costs associated with these efficiency gains, many economists argue that these can be dealt with by appropriate government support through redistribution and perhaps retraining . Yet, some empirical literature suggests that privatization could also have very modest effects on efficiency and quite regressive distributive impact. In
1177-486: A natural and inevitable societal correction emerges to undermine the contradictions of capitalism. This was the case in the 2000 Cochabamba protests . Privatization in Latin America has invariably experienced increasing push-back from the public. Mary Shirley from The Ronald Coase Institute suggests that implementing a less efficient but more politically mindful approach could be more sustainable. In India,
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#17327733034311284-430: A net loss of US$ 365.2 million in 2020, with a loss in sales of $ 138.1 million. Currently, the airline is wholly owned by Polish Aviation Group (Polish: Polska Grupa Lotnicza S. A. ), a Polish state-owned holding company. LOT was intended to be privatised in 2011. Although advanced talks were undertaken with Turkish Airlines a deal failed to materialise. This was largely due to the inability of Turkish Airlines, as
1391-701: A new flight to Beijing, but this lasted just a month, in the period before the Olympics. The reason for failure to continue this service was given as the need to route aircraft via an air corridor to the south of Kazakhstan (as LOT did not have permission for flights over Siberia from the Russian government) which was making the services too long and thus unprofitable. LOT started new services to Yerevan , Armenia, Beirut , Lebanon and resumed Tallinn , Estonia, Kaliningrad , Russia, Gothenburg , Sweden and Bratislava , Slovakia with its newly acquired Embraer aircraft in
1498-404: A non-EU airline, to buy a majority of the airline. LOT lost 145.5 million złote (PLN) in 2011, compared to a 163.1 million PLN loss in 2010. LOT saw a return to profitability in 2016, with profits of 183.5 million and more than 280 million PLN respectively. The profits led the then finance minister Mateusz Morawiecki to suggest they were a result of his government's policies. He also accused
1605-556: A sale. This interpretation is particularly argued to apply to recent municipal transactions in the United States, particularly for fixed term, such as the 2008 sale of the proceeds from Chicago parking meters for 75 years. It is argued that this is motivated by "politicians' desires to borrow money surreptitiously", due to legal restrictions on and political resistance to alternative sources of revenue, viz, raising taxes or issuing debt. Privatization had different outcomes around
1712-478: A specialist in ancient history, posits that economic inequality and wealth concentration in the top percentile "had been made possible by the transfer of state assets to private owners." In Latin America, on the one hand, according to John Nellis's research for Center for Global Development , economic indicators, including firm profitability, productivity, and growth, project positive microeconomic results. On
1819-570: A stock market with high capital. Voucher privatization occurred mainly in the transition economies in Central and Eastern Europe, such as Russia , Poland , the Czech Republic , and Slovakia . Additionally, privatization from below had made important contribution to economic growth in transition economies. In one study assimilating some of the literature on "privatization" that occurred in Russian and Czech Republic transition economies,
1926-741: A survey by the National Commission for Protection of Child Rights (NCPCR) – Utilization of Free Medical Services by Children Belonging to the Economically Weaker Section (EWS) in Private Hospitals in New Delhi, 2011–12: A Rapid Appraisal – indicates under-utilization of the free beds available for EWS category in private hospitals in Delhi, though they were allotted land at subsidized rates. In Australia
2033-412: A transition to "effective private sector owners [of former] state assets". Rather than mainly participating in a market economy, these individuals could prefer elevating their personal status or prefer accumulating political power. Instead, outside foreign investment led to the efficient conduct of former state assets in the private sector and market economy. Through privatization by direct asset sale or
2140-512: Is determined by miles flown during one calendar year with specific partners. Membership levels include Basic (no minimal threshold), Frequent Traveller (Silver, 35,000-mile threshold), Senator (Gold, 100,000-mile threshold), and HON Circle (Black, 600,000-mile threshold over two calendar years). All non-basic Miles & More status levels offer lounge access and executive bonus miles, with the higher levels offering more exclusive benefits. LOT operates, in cooperation with PPL (Polish State Airports),
2247-448: Is influenced by the capital market and the political and firm-specific factors. Privatization through the stock market is more likely to be the method used when there is an established capital market capable of absorbing the shares. A market with high liquidity can facilitate the privatization. If the capital markets are insufficiently developed, however, it would be difficult to find enough buyers. The shares may have to be underpriced, and
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#17327733034312354-590: Is more prevalent in non-privatized sectors. Furthermore, according to the World Bank extralegal and unofficial activities are more prevalent in countries that privatized less. Other research suggests that privatization in Russia resulted in a dramatic rise in the level of economic inequality and a collapse in GDP and industrial output. Russian President Boris Yeltsin 's IMF -backed rapid privatization schemes saw half
2461-515: Is the flag carrier of Poland . It is a founding member of IATA and remains one of the world's oldest airlines in operation. With a fleet of 80 aircraft as of August 2024, LOT Polish Airlines is the 18th largest operator in Europe, serving 105 domestic and international destinations across Europe, Asia and North America. The airline was founded on 29 December 1928 by the Polish government during
2568-524: The 2011 revolution , most of the public began to call for re-nationalization, citing allegations of the privatized firms practicing crony capitalism under the old regime. There are various reasons why a government may decide to privatize; commonly due to economic reasons. The economic factors that influence a government's decision to privatize assume this will lower government debt. Studies have shown that governments are more likely to privatise with higher public debt, typically because governments do not have
2675-794: The Boeing 767-300 in March 1990, ATR 72 in August 1991, Boeing 737-500 in December 1992 and finally the Boeing 737-400 in April 1993. From the mid-1980s to early 1990s LOT flew from Warsaw to Chicago, Edmonton, Montreal, Newark, New York City and Toronto. These routes were primarily inaugurated to serve the large Polish communities ( Polonia ) present in North America. LOT was among the first Central European airlines to operate American aircraft when
2782-535: The Conservative government of Margaret Thatcher when many state-run firms were sold off to the private sector. The privatization received very mixed views from the public and the parliament. Even former Conservative prime minister Harold Macmillan was critical of the policy, likening it to "selling the family silver". There were around 3 million shareholders in Britain when Thatcher took office in 1979 , but
2889-530: The European Commission argues that privatisation in Europe had mixed effects on service quality and has achieved only minor productivity gains, driven mainly by lower labour input combined with other cost cutting strategies that led to a deterioration of employment and working conditions. Meanwhile, a different study by the commission found that the UK rail network (which was privatized from 1994 to 1997)
2996-632: The Polish spelling reform of that year from Polskie Linje Lotnicze 'LOT' to Polskie Linie Lotnicze 'LOT'. That same year, a well-publicised transatlantic test flight from Los Angeles via Buenos Aires, Natal , Dakar to Warsaw, aimed at judging the feasibility of introducing passenger service on the Poland-United States route, was successfully executed. There were plans to open services to London and Moscow, and even transatlantic service in 1940. The airline had carried 218,000 passengers before
3103-493: The Polish white and red flag was added on a rudder. From the early 1950s, a thin blue cheatline was introduced below the window line, starting with a stylized bird in front. Some aircraft flew in military schemes (green and light blue or olive drab and grey). This livery featured blue mid-level broad cheatline on the window line, with the fuselage a white colour above the cheatline and unpainted below. Early versions of this livery also featured thin blue stripes above and below
3210-614: The Revolutions of 1989 introduced non-communist governments. Freedom House's privatization index, 1998 and 2002 Freedom House 's privatization index rated transition countries from 1 (maximum progress) to 7 (no progress). The table below shows the privatization index for various Eastern European countries in 1998 and 2002: The largest public shares offering in France involved France Télécom . Egypt undertook widespread privatization under Hosni Mubarak . Following his overthrow in
3317-562: The Second Polish Republic as a self-governing limited liability corporation, taking over existing domestic airlines Aerolot (founded in 1922) and Aero (founded in 1925), and began operations on 1 January 1929. During the 1930s, LOT expanded its domestic and international routes, leading to a network spanning over 10,250 km by 1939. It also expanded its fleet, acquiring Douglas DC-2 and Lockheed Electra and various other aircraft. The airline moved its operations to
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3424-401: The demutualization of a mutual organization , cooperative , or public-private partnership in order to form a joint-stock company . Separately, privatization can refer to the purchase of all outstanding shares of a publicly traded company by private equity investors, which is more often called "going private" . Before and after this process the company is privately owned, but after
3531-667: The private sector , and the women in the public sector are more likely to be unionized than those in the private sector. In Chile, women are disproportionately affected by the privatization of the pension system because factors such as "women's longer life expectancy, earlier retirement age, and lower rates of labor-force participation, lower salaries" affect their ability to accumulate funds for retirement which leads to lower pensions. Low-income women face an even greater burden; Anjela Taneja, of Oxfam India says "The privatization of public services...implies limited or no access to essential services for women living in poverty, who are often
3638-447: The "Flying Crane" (designed by a visual artist from Warsaw , Tadeusz Gronowski, and still in use today) was picked as the winning entry of the airline's logo design competition. In the same year, the company's first multi-segment international flight along the route Warsaw – Lwów – Czerniowce – Bucharest was launched. In next years there followed services to Berlin , Athens , Helsinki , Budapest , including some waypoints. By 1939
3745-680: The 'Polonez' Business Lounge at Warsaw Chopin Airport . The lounge is accessible to anyone with a business class ticket for travel with LOT or any other Star Alliance member airline, and those who are members of a Star Alliance 'Gold' loyalty program (such as Miles & More Senator status) or the Polish State Airports authority's 'Good Start' program. Some examples of services offered to passengers include business conferencing facilities, internet access, workspace, local, national and foreign-language media (newspapers and television) and individual access to an Apple iPad . LOT also opened
3852-886: The Boeing 767 was introduced; the 767s were used to operate LOT's longest-ever connection, to Singapore. By the end of 1989 LOT had achieved much: it had hosted that year's IATA congress and reached a milestone annual load-factor of 2.3 million passengers carried over the year. In 1990 LOT's third Boeing 767-300 landed at Warsaw Chopin Airport and not long after Boeing 737 and ATR 72 aircraft were acquired for use on LOT's expanded route network, which began to include new international destinations such as Kyiv , Lviv , Minsk and Vilnius . Soon thereafter, in 1993, LOT began to expand its Western-European operations, inaugurating, in quick succession, flights to Oslo , Frankfurt and Düsseldorf ; operations at Poland's other regional airports outside Warsaw were also duly expanded around this time. In 1994
3959-528: The Middle East, and eventually launching transatlantic flights to North America in the early 1970s. In the post-1989 era, following the fall of communism in Poland , LOT transitioned to Western aircraft, including the acquisition of Boeing 767 for long-haul routes. The airline joined the Star Alliance in 2003. In 2012, LOT became the first European operator of Boeing 787 Dreamliner . In recent years,
4066-701: The Nazi Party." Great Britain privatized its steel industry in the 1950s, and the West German government embarked on large-scale privatization, including sale of the majority stake in Volkswagen to small investors in public share offerings in 1961. However, it was in the 1980s under Margaret Thatcher in the United Kingdom and Ronald Reagan in the United States that privatization gained worldwide momentum. Notable privatization attempts in
4173-592: The Polish Aviation Group (Polska Grupa Lotnicza or PGL) announced that it would acquire Condor Flugdienst . On 2 April 2020 it was announced that the sale had fallen through. The company temporarily suspended operations on 15 March 2020 due to the COVID-19 pandemic , and domestic Polish flights restarted only on 1 June 2020, while international flights were resumed on a very limited basis from 1 July 2020. In July 2021, LOT Polish Airlines recorded
4280-522: The Polish and Russian governments in November 2011. As a result of the new agreement, LOT received new take-off and landing slots at Moscow's Sheremetyevo International Airport . Although delayed from the original plans, LOT began flights to Tokyo on 13 January 2016, with flights three times per week. In 2010/11 LOT also announced its new 'East meets West' route expansion policy, which saw the airline add several new Asian destinations to its schedule over
4387-763: The Romanian government. For the duration of the Second World War, the airline suspended operations. After the Soviet occupation of Poland, from August 1944 until December 1945 the Polish Air Force maintained basic transport in the country; from March 1945 there were regular routes maintained by Civil Aviation Department of the Air Force. On 10 March 1945 the Polish government recreated the LOT airline, as
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4494-608: The Russian population fall into destitution in just several years as unemployment climbed to double digits by the early to mid 1990s. A 2009 study published in The Lancet medical journal has found that as many as a million working men died as a result of economic shocks associated with mass privatization in the former Soviet Union and in Eastern Europe during the 1990s, although a further study suggested that there were errors in their method and "correlations reported in
4601-690: The Taoist clergy that a strong ruler was virtually invisible. During the Renaissance , most of Europe was still by and large following the feudal economic model. By contrast, the Ming dynasty in China began once more to practice privatization, especially with regards to their manufacturing industries. This was a reversal of the earlier Song dynasty policies, which had themselves overturned earlier policies in favor of more rigorous state control. In Britain,
4708-406: The UK included privatization of Britoil (1982), the radioactive-chemicals company Amersham International (1982), British Telecom (1984), Sealink ferries (1984), British Petroleum (gradually privatized between 1979 and 1987), British Aerospace (1985 to 1987), British Gas (1986), Rolls-Royce (1987), Rover Group (formerly British Leyland , 1988), British Steel Corporation (1988), and
4815-464: The airline faced a failed privatization attempt and a temporary suspension of operations due to the COVID-19 pandemic . Most of the destinations originate from its hub at Warsaw Chopin Airport . Since 2018, LOT has maintained one long-haul route from Budapest Ferenc Liszt International Airport in Hungary where it operates regularly scheduled flights to Seoul all year round. When the airline
4922-531: The airline signed a codesharing agreement with American Airlines on flights to and from Warsaw as well as onward flights in the United States and Poland operated by both companies; flights to Thessaloniki, Zagreb and Nice were inaugurated, and according to an IATA report, in this year LOT had the youngest fleet of any airline in the world. After years of planning, in 1997 LOT set up a sister airline, EuroLOT, which, essentially operating as its parent airline's regional subsidiary, took over domestic flights. The airline
5029-678: The approval of the Minister of the State Treasury, begun a process of selling shares to the Swiss company SAirGroup Holding, this then led to the airline's incorporation into the then-nascent Qualiflyer Group. Expansion of LOT's route network continued in the early 2000s and the potential of the airline's hub at Warsaw Chopin Airport to become a major transit airport was realised with more and more success. In 2000 LOT took delivery of its largest-ever order of 11 aircraft and by 2001 had reached
5136-612: The assumption that foreign investment would play a major role. In post- reunification East Germany, by the end of June 1992, the Treuhandanstalt had privatized 8,175 companies, with 5,950 left on hand (4,340 remaining to be sold and the remainder to be liquidated). June 1992 was also when the last East German on the board of the Treuhand left. By the end of 1994, Treuhand had sold almost everything, having only 65 firms left to privatize as of December 1994. More than 80% of
5243-445: The authors identified three methods of privatization: "privatization by sale", "mass privatization", and "mixed privatization". Their calculations showed that "mass privatization" was the most effective method. However, in economies "characterized by shortages" and maintained by the state bureaucracy, wealth was accumulated and concentrated by "gray/black market" operators. Privatizing industries by sale to these individuals did not mean
5350-544: The buyout its shares are withdrawn from being traded at a public stock exchange . The term privatizing first appeared in English, with quotation marks, in the New York Times , in April 1923, in a translation of a German speech referring to the potential for German state railroads to be bought by American companies. In German, the word Privatisierung has been used since at least the 19th century. Ultimately,
5457-630: The centre of the Marxist–Leninist world, and to Vienna . Services to London and Zürich were not re-established until 1958, and to Rome until 1960. Nine Ilyushin Il-18 turboprop airliners were introduced in June 1961, leading to the establishment of routes to Africa and the Middle East, and in 1963 LOT expanded its routes to serve Cairo . In the 1970s there were added lines to Baghdad , Beirut , Benghazi , Damascus and Tunis . The Antonov An-24
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#17327733034315564-401: The cheatline and a white tail, with small black crane logo on the fin and medium-size Polish flag on the rudder. Above the cheatline there was black inscription in italics: POLSKIE LINIE LOTNICZE »LOT« . There was also a long black stylized crane below the cockpit on most aircraft. In the early 1960s, the scheme was modernized and featured the blue cheatline without upper and lower stripes, and
5671-619: The coming years. The policy aimed to take advantage of LOT's perspectives as a transit airline and the substantial passenger growth seen on Europe-Asia flights in recent years. Also, in line with this policy LOT introduced premium economy class on all Boeing 787 aircraft. Additionally, lie-flat seats are available in business class and all of the airline's new long-haul aircraft have been fitted with Thales personal entertainment systems. In June 2012 LOT announced all services to New York would be centralized from Newark and JFK Terminal 4 to JFK Terminal 1 from October 2012. It would also enter into
5778-784: The context of the privatization of services or government functions, where private entities are tasked with the implementation of government programs or the performance of government services. Gillian E. Metzger has written that: "Private entities [in the US] provide a vast array of social services for the government; administer core aspects of government programs; and perform tasks that appear quintessentially governmental, such as promulgating standards or regulating third-party activities." Metzger mentions an expansion of privatization that includes health and welfare programs, public education, and prisons. The history of privatization dates from Ancient Greece , when governments contracted out almost everything to
5885-586: The controlled bankruptcy of PLL LOT, which faces financial challenges due to the COVID-19 pandemic. In January 2022, the company rebranded as LOTAIR SA, and on March 16, 2023, it suspended operations for a period of 24 months. Their main subsidiaries are: In 2019, LOT Polish Airlines served 10 million passengers which was their highest amount yet. LOT Polish Airlines LOT Polish Airlines , legally incorporated as Polskie Linie Lotnicze LOT S.A. ( Polish pronunciation: [lɔt] , flight ),
5992-512: The cost of bureaucracy was one of the reasons for the fall of the Roman Empire . Perhaps one of the first ideological movements towards privatization came during China 's golden age of the Han dynasty . Taoism came into prominence for the first time at a state level, and it advocated the laissez-faire principle of Wu wei (無為), literally meaning "do nothing". The rulers were counseled by
6099-714: The countries suggest that a large segment of the public is dissatisfied with or have negative views of privatization in the region. In the 1990s, the governments in Eastern and Central Europe engaged in extensive privatization of state-owned enterprises in Eastern and Central Europe and Russia, with assistance from the World Bank , the U.S. Agency for International Development, the German Treuhand , and other governmental and non-governmental organization . Nippon Telegraph and Telephone 's privatization in 1987 involved
6206-427: The delivery of new Boeing 787 long-haul aircraft in 2011/12, LOT introduced a new livery. This design was intended to retain the tradition and spirit of LOT with no major or radical changes to the livery applied to the airline's aircraft. The blue nose and broad cheat-line were removed; the 'POLSKIE LINIE LOTNICZE' title on each aircraft's starboard side was replaced with the words 'POLISH AIRLINES'. The tailplane's design
6313-531: The design of the LOT livery as an area of dark blue under the cockpit windscreen, the long cheat-line painted down the side of the fuselage and the large traditional logo which is emblazoned on the tailplane. Ilyushin Il-62 aircraft were named after famous Polish people, with the first-named Mikołaj Kopernik . The five Boeing 767s LOT ordered from Boeing were named after Polish cities. The used and short term leased 767s LOT operated did not get names. This practise
6420-776: The first attempt at a social welfare analysis of the British privatization program under the Conservative governments of Margaret Thatcher and John Major during the 1980s and 1990s, Massimo Florio points to the absence of any productivity shock resulting strictly from ownership change. Instead, the impact on the previously nationalized companies of the UK productivity leap under the Conservatives varied in different industries. In some cases, it occurred prior to privatization, and in other cases, it occurred upon privatization or several years afterward. A 2012 study published by
6527-475: The first time in seven years, a 22 June 2015 press conference revealed details about the airline's prospects. These include reinstating routes renounced as part of EU sanctions imposed following Polish government aid granted to ensure the airline's survival, as well as new long haul routes to Asia and North America. Air Lease Corporation confirmed on 13 October 2016, the placement of six Boeing 737 MAX 8 aircraft with LOT, and options to lease five further aircraft of
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#17327733034316634-453: The first time. The new airport is much larger than any previous airport in Poland. In that same year, Pope Benedict XVI returned to Rome on a LOT flight following his pilgrimage to Poland. LOT created low-cost arm Centralwings in 2004; however, the company was dissolved and reincorporated into LOT after just five years of operating due to its long-term unprofitability and LOT's wish to redeploy aircraft within its fleet. In 2008 LOT opened
6741-590: The fleet for a short period in 1947–1948, followed by five Ilyushin Il-12 B in 1949; 13–20 Ilyushin Il-14s then followed in 1955–1957. After the end of Stalinism in Poland, few Western aircraft would be acquired; five Convair 240s in 1957 and three Vickers Viscounts in 1962 proved to be the last until the 1990s. After that, the composition of the airline's fleet shifted exclusively to Soviet -produced aircraft. Only in 1955 LOT inaugurated services to Moscow , being
6848-415: The group in early October 2018. Its CEO is Rafał Milczarski. It was started with a capital of PLN 1.2 billion (EUR 290 million) as a joint stock company in January 2018. The new state-owned Polish Aviation Group (PGL), endowed with capital of PLN 2.5 billion, brings together the country’s largest aviation service providers. On 24 January 2020 PGL announced that it would acquire Condor Flugdienst , and that
6955-430: The largest share offering in financial history at the time. 15 of the world's 20 largest public share offerings have been privatizations of telecoms. In 1988, the perestroika policy of Mikhail Gorbachev started allowing privatization of the centrally planned economy. Large privatization of the Soviet economy occurred over the next few years as the country dissolved . Other Eastern Bloc countries followed suit after
7062-423: The lines were extended to Beirut , Rome , Copenhagen , reaching 10,250 km (6,370 mi) of routes. The Douglas DC-2 , Lockheed Model 10A Electra and Model 14H Super Electra joined the fleet in 1935, 1936 and 1938 respectively (During this period, LOT had 10 Lockheed 10, 10 Lockheed 14, 3 DC-2 and 1 Ju 52/3mge ). Several Polish aircraft designs were tested, but only the single-engined PWS-24 airliner
7169-400: The middle of the 1930s. The firms belonged to a wide range of sectors: steel, mining, banking, local public utilities, shipyard, ship-lines, railways, etc. In addition to this, delivery of some public services produced by public administrations prior to the 1930s, especially social services and services related to work, was transferred to the private sector, mainly to several organizations within
7276-467: The more competitive the industry, the greater the improvement in output, profitability, and efficiency. Such efficiency gains mean a one-off increase in GDP , but through improved incentives to innovate and reduce costs also tend to raise the rate of economic growth . More recent research and literature review performed by Professor Saul Estrin and Adeline Pelletier concluded that "the literature now reflects
7383-408: The needed time to wait for a return. Another economic factor that influences this area is the resulting efficiency of SOEs once privatised. Commonly, governments aren’t able to provide the required investments required to ensure profitability for various reasons. These factors may lead to a government deciding to privatize. There are several main methods of privatization: The choice of sale method
7490-534: The new Warsaw Okęcie Airport in 1934. However, the outbreak of World War II in 1939 led to the suspension of services and evacuation of most of LOT's aircraft. Post-war, LOT was reestablished in 1945 as a state enterprise , primarily operating Soviet-built aircraft due to Poland becoming a Soviet satellite state in 1948. Resuming both domestic and international flights, LOT operated a fleet consisting of Ilyushin Il-18 , Ilyushin Il-62 , Tupolev Tu-134 , and Antonov An-24 , among others, serving routes across Europe,
7597-543: The new CEO of LOT, Marcin Piróg, announced that the airline was considering to open services to Baku, Sochi, Stuttgart, Oslo, Gothenburg, Dubai, Kuwait and Ostrava from its Warsaw hub in the near future. Previously planned flights to Donetsk in Ukraine had already been inaugurated, as had Tokyo, and the resumption of Beijing flights. This became feasible since the finalizing of an agreement on Siberian overflight permits for LOT by
7704-446: The ones more in need of these services." The increase in privatization since the 1980s has been a factor in rising income and wealth inequality in the United States. Due to low levels of native capital accumulation in the former Central and Eastern Europe, the rapid privatization preferred by international institutions ( EBRD , IMF , World Bank ) and other foreign banks was a de facto call for international bidding, reflecting
7811-689: The original article are simply not robust." A subsequent body of scholarship, while still controversial, demonstrates that rapid privatization schemes associated with neoliberal economic reforms did result in poorer health outcomes in former Eastern Bloc countries during the transition to markets economies, with the World Health Organization contributing to the debate by stating "IMF economic reform programs are associated with significantly worsened tuberculosis incidence, prevalence, and mortality rates in post-communist Eastern European and former Soviet countries." Historian Walter Scheidel ,
7918-430: The other hand, however, privatisation has been largely met with a negative criticism and citizen coalitions. This neoliberal criticism highlights the ongoing conflict between varying visions of economic development. Karl Polanyi emphasizes the societal concerns of self-regulating markets through a concept known as a "double movement". In essence, whenever societies move towards increasingly unrestrained, free-market rule,
8025-504: The previous Civic Platform government of leading the airline to either bankruptcy or "accelerated privatisation". LOT Polish Airlines serves a network of European destinations in addition to flights in Asia, the Middle East, and North America. LOT Polish Airlines has codeshare agreements with the following airlines: As of October 2024 , LOT Polish Airlines operates the following aircraft: To be retrofitted from 2026. With
8132-611: The private sector. In the Roman Republic private individuals and companies performed the majority of services including tax collection ( tax farming ), army supplies ( military contractors ), religious sacrifices and construction. However, the Roman Empire also created state-owned enterprises —for example, much of the grain was eventually produced on estates owned by the Emperor. David Parker and David S. Saal suggest that
8239-464: The private sector. In the 1990s, privatization revenue from 18 Latin American countries totaled 6% of gross domestic product. Private investment in infrastructure from 1990 and 2001 reached $ 360.5 billion, $ 150 billion more than in the next emerging economy. While economists generally give favorable evaluations of the impact of privatization in Latin America, opinion polls and public protests across
8346-887: The privatization of common lands is referred to as enclosure (in Scotland as the Lowland Clearances and the Highland Clearances ). Significant privatizations of this nature occurred from 1760 to 1820, preceding the Industrial Revolution in that country. The first mass privatization of state property occurred in Nazi Germany between 1933 and 1937: "It is a fact that the government of the National Socialist Party sold off public ownership in several state-owned firms in
8453-575: The privatized businesses were bought by foreigners (chiefly West Germans – 75%). Romania's first privatization took place on 3 August 1992. There was "very little" privatization during 1992: only 22 state-owned enterprises were privatized. The pace picked up throughout the following year, with more than 260 companies privatized. Four of the 22 enterprises privatized in 1992 were sold to foreign investors. In 1993, 265 companies were privatized, followed by 604 in 1994. Two companies were sold to foreign investors during this period, one each in 1993 and 1994. At
8560-448: The public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated. Government functions and services may also be privatised (which may also be known as "franchising" or "out-sourcing"); in this case, private entities are tasked with the implementation of government programs or performance of government services that had previously been
8667-465: The purview of state-run agencies. Some examples include revenue collection, law enforcement , water supply , and prison management . Another definition is that privatization is the sale of a state-owned enterprise or municipally owned corporation to private investors; in this case shares may be traded in the public market for the first time, or for the first time since an enterprise's previous nationalization . This type of privatization can include
8774-428: The regional water authorities (mostly in 1989). After 1979, council house tenants in the UK were given the right to buy their homes (at a heavily discounted rate). One million purchased their residences by 1986. Such efforts culminated in 1993 when British Rail was privatized under Thatcher's successor, John Major . British Rail had been formed by prior nationalization of private rail companies. The privatization
8881-425: The sale of the state-owned companies. Those with political connections unfairly gained large wealth, which has discredited privatization in these regions. While media have widely reported the grand corruption that accompanied those sales, according to research released by the World Bank there has been increased operating efficiency, daily petty corruption is, or would be, larger without privatization, and that corruption
8988-504: The sales may not raise as much capital as would be justified by the fair value of the company being privatized. Many governments, therefore, elect for listings in more sophisticated markets, for example, Euronext , and the London , New York and Hong Kong stock exchanges. Governments in developing countries and transition countries more often resort to direct asset sales to a few investors, partly because those countries do not yet have
9095-983: The same type. Long haul plans saw the addition of further Boeing 787 aircraft, increasing the total to 16. The airline is currently evaluating the economics of future narrow body and wide body acquisitions to broaden expansion initiatives. The airline's CEO stated they are evaluating the Airbus A220 and Embraer E-Jet-E2 families, as well as the Boeing 787 Dreamliner and Airbus A350 XWB offerings. In May 2018, LOT Polish Airlines started scheduled flights from outside Poland beginning with long-haul routes to New York and Chicago from Budapest airport in Hungary. In May 2019, it started flying from Lithuanian capital Vilnius to London City airport and from Estonian capital Tallinn to Brussels and Stockholm two months later. The latter two flights were suspended in early 2020 due to coronavirus pandemic On 24 January 2020, Owner of LOT,
9202-404: The services were suspended after the outbreak of World War II on 1 September 1939 and during the following German occupation of Poland; most of LOT's aircraft were evacuated to Romania, two to Baltic states , and three L-14H to Great Britain. In 1939 there were 697 employees, including 25 pilots, most of which were evacuated along with the planes. 13 airliners that got to Romania were seized by
9309-411: The stock market, bidders compete to offer higher prices, generating more revenue for the state. Voucher privatization, on the other hand, could represent a genuine transfer of assets to the general population, creating a sense of participation and inclusion. A market could be created if the government permits transfer of vouchers among voucher holders. Some privatization transactions can be interpreted as
9416-434: The subsequent sale of state-run firms saw the number of shareholders double by 1985. By the time of her resignation in 1990, there were more than 10 million shareholders in Britain. Privatization in Latin America was extensive in the 1980s and 1990s, as a result of a Western liberal economic policy. Companies providing public services such as water management , transportation, and telecommunications were rapidly sold off to
9523-785: The summer of 2010, and in October of the same year LOT resumed service to Asia, with three weekly flights on the Warsaw – Hanoi route. In addition to this, new services to Tbilisi , Damascus and Cairo were inaugurated. In 2010 LOT cancelled flights, after 14 years of operation, between Kraków and the US destinations of Chicago and New York, citing profitability concerns and lack of demand. The last US-Kraków flight departed on 27 October 2010 from Chicago O'Hare. The aircraft previously used on this route were then re-deployed to serve LOT's Warsaw-Hanoi route. This route to Hanoi (the Vietnamese capital)
9630-411: The tail, and a small black inscription: POLSKIE LINIE LOTNICZE „LOT" under or above the window line. Before 1939, there was also a rounded inscription: LOT above passenger doors (apart from Ju 52, which also differed in having black engine covers and nacelles). After World War II, the aircraft mostly wore a similar all-natural metal scheme, with the airline name above the window line. In the late 1940s,
9737-414: The transaction was expected to be completed in April 2020 after consideration from anti-trust regulators. On 2 April 2020 it was announced that the sale had fallen through. On 29 May 2020 Lot Polish Airlines S.A. was established, with PGL owning 100% of the shares. The reasons behind forming a company with a similar name remain unknown, with only speculations suggesting it might have been created to announce
9844-402: The voices of workers, community members and academics. Some reports show that the results of privatization are experienced differently between men and women for numerous reasons: when public services are privatized women are expected to take on the health and social care of dependents , women have less access to privatized goods, public sector employs a larger proportion of women than does
9951-411: The withdrawal of Il-18 and Tu-134 aircraft from LOT's fleet in the 1980s, and were deployed successively on most European and Middle East routes. In 1986 transatlantic charter flights also reached Detroit and Los Angeles . After the fall of the communist system in Poland in 1989 the fleet shifted back to Western aircraft, beginning with acquisitions of the Boeing 767-200 in April 1989, followed by
10058-524: The word came to German through French from the Latin privatus . The term reprivatization , again translated directly from German ( Reprivatisierung ), was used frequently in the mid-1930s as The Economist reported on Nazi Germany's sale of nationalized banks back to public shareholders following the 1931 economic crisis. The word became common in the late 1970s and early 1980s as part of UK prime minister Margaret Thatcher's economic policies . She
10165-556: The world. Results of privatization may vary depending on the privatization model employed. According to Irwin Stelzer , "it is somewhere between difficult and impossible to separate the effects of privatisation from the effects of such things as trends in the economy". According to research performed by the World Bank and William L. Megginson in the early 2000s, privatization in competitive industries with well-informed consumers, consistently improved efficiency. According to APEC ,
10272-501: Was acquired in any number. In 1934, after five years of operating under the LOT name, the airline received new head offices, technical facilities, hangars, workshops, and warehouses located at the new, modern Warsaw Okęcie Airport . This constituted a move from the airline's previous base at Pole Mokotowskie , as this airport had become impossible to operate safely due it gradually becoming absorbed into Warsaw's outlying urban and residential areas. In 1938, LOT changed its name, following
10379-481: Was always private, but heavily regulated, which becomes less regulated through a process of deregulation . The term may also be used descriptively for something that has always been private, but could be public in other jurisdictions. There are also private entities that may perform public functions. These entities could also be described as privatized. Privatization may mean the government sells state-owned businesses to private interests, but it may also be discussed in
10486-414: Was changed only slightly, with the colours of the traditional encircled crane logo being inverted and the circle becoming a more simple outline ring. Several Embraer aircraft have special advertising liveries, while one E-175 was repainted as a retrojet into the 1945 livery that was used with some modifications until the 1970s. Airliners featured all-natural metal silvery color, with a black crane logo on
10593-410: Was controversial, and its impact is still debated today , as doubling of passenger numbers and investment was balanced by an increase in rail subsidy . This has been reverted by the same party in Britain in the early 2020s with the state-owned Great British Railways . The United Kingdom's largest public share offerings were privatizations of British Telecom and British Gas during the 1980s under
10700-423: Was delivered from April 1966 (20 used, on domestic routes), followed by the first jet airliners Tupolev Tu-134 in November 1968 (which coincided with the opening of a new international terminal at Warsaw's Okęcie Airport). The Tu-134s were operated on European routes. The Ilyushin Il-62 long-range jet airliner inaugurate the first transatlantic routes in the history of Polish air transport to Toronto in 1972 as
10807-421: Was developed with the hope that it would increase transit passenger-flow through Warsaw's Chopin Airport, whilst at the same time providing capacity on routes with smaller load factors and play a part in developing LOT's reputation as the largest transit airline in Central and Eastern Europe. By 1999 LOT had purchased a number of small Embraer 145 regional jets in order to expand its short-haul fleet, and had, with
10914-505: Was drawing on the work of the pro-privatization Member of Parliament David Howell , who was himself drawing on the Austrian-American management expert Peter Drucker 's 1969 book, The Age of Discontinuity . The word privatization may mean different things depending on the context in which it is used. It can mean moving something from the public sphere into the private sphere, but it may also be used to describe something that
11021-493: Was founded in 1928, Poland's State Treasury had 86% shares in the line, with the rest belonging to the Province of Silesia and the city of Poznań . At the beginning of the 1930s, in addition to existing services from Warsaw to Kraków , Poznań , Gdańsk and Lwów , new service to Bydgoszcz and Katowice was introduced. In 1932, LOT began flying to Wilno . It was also at this point, in 1931, that LOT's well-renowned logo,
11128-750: Was introduced, the 1929-designed Tadeusz Gronowski logo, however, despite many changes in livery, was kept through the years, and to this day remains the same. In the autumn of 1981, commercial air traffic in Poland neared collapse in the wake of the communist government's crackdown on dissenters in the country after the rise of the banned 'trade union' dissident Solidarity movement , and some Western airlines suspended their flights to Warsaw. With 13 December declaration of Martial Law that same year , all LOT connections were suspended. Charter flights to New York and Chicago resumed only in 1984, and eventually, regular flight connections were restored on 28 April 1985. Tupolev Tu-154 mid-range airliners were acquired, after
11235-414: Was largely under-utilised by European carriers and has proved very successful for LOT in the beginning. On 31 May 2010, CEO of LOT Sebastian Mikosz stated that the airline will be replacing its fleet to meet a goal of one-third new by 2011. Replacement already started with Embraer E-Jets 175/170. For domestic expanded operations, LOT purchased Dash 8 -Q400 over ATR 72 -600 aircraft. On 5 February 2011,
11342-609: Was most improved out of all the 27 EU nations from 1997 to 2012. The report examined a range of 14 different factors and the UK came top in four of the factors, second and third in another two and fourth in three, coming top overall. Nonetheless, the impact of the privatisation of British Rail has been the subject of much debate, with the stated benefits including improved customer service, and more investment; and stated drawbacks including higher fares, lower punctuality and increased rail subsidies. Privatizations in Russia and Latin America were accompanied by large-scale corruption during
11449-540: Was not continued upon arrival of LOT's Boeing 787s and the introduction of the airline's updated livery. Only LOT's sixth 787, SP-LRF, was named 'Franek' after an online vote organised by the airline. LOT uses Lufthansa's frequent-flyer program , called Miles & More . Miles & More members can earn miles on LOT flights and Star Alliance partner flights, as well as through LOT credit cards and purchases made through LOT Polish Airlines shops. Status within Miles & More
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