Poland’s treasury minister has informed that the national carrier, LOT will be finally sold off in the fall of 2009.

“We are looking for investors: financial, strategic, in Europe and outside,” said Treasury Minister Aleksander Grad,

LOT was supposed to be floated on the stock exchange this February. At the beginning of the year, however, the government called off the plan. Now government is going to sell 49 percent of shares currently owned by the Treasury and Swissair and prepare for further privatisation.

Poland’s carrier desperately needs a financial rescue package. In 2008, its operating loss fell to 150 million zlotys - 32 million euro - while a year before the company noted 73 million zlotys profit.

Total losses could fall to as much as 700 million zlotys. In 2009 management forecasts a 120 million zlotys loss, but in 2010, a 5 million zlotys profit. (dw)