US Airlines to Enter Poland

June 19, 2007

The heads of Polish airports are talking with the American Association of Airport Executives (AAAE) about the possibility of introducing flights to the USA, operated by American airlines. "Delta Airlines is ready to launch flights to Poland in autumn next year. Jet Blue is thinking of doing the same. Although it is a budget airline, its potential makes it possible to take part in this kind of enterprise," said Zbigniew Salek, deputy head of Wroclaw airport and, since yesterday, the first Polish member of the AAAE. Some Polish regional airports have already started preparing for Transatlantic flights by extending runways (Poznan and Wroclaw) and considering a new terminal (Katowice). "In order to attract companies from the USA, Polish airports need to meet high standards of passport control and customs clearance," said Salek. American companies may prove to be serious rivals for LOT. According to the EC, ticket prices may fall by 30 percent.

NFI Considering Emigrating

The Treasury recently announced the idea of withdrawing capital gains tax relief for national investment trusts (NFI), which worried their shareholders. The number of the latter has significantly gone up lately: NFIs have been luring them with interesting property development projects and the names of famous investors entering this market segment (Roman Karkosik, for instance). The NFIs are now thinking of moving to locations in which conditions for investment companies will be more favourable. According to Parkiet, at least three of them are considering going abroad. They are also pondering an alternative solution: setting up investment trust companies (TFI) and transferring all assets to them. Why are the Treasury's ideas unfavourable for the NFIs? When selling their shares, investors currently need to pay 19-percent capital gains tax. After the changes, NFIs will additionally have to pay 19-percent tax on their capital gains.

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