5 September 2014
LOT Polish Airlines said it has consistently improved its financial standing and is now in the black.
At the end of August, the airline exceeded the cumulative breakeven point, thus making a profit on its core business of flying, following years of losses. This is in line with the assumptions of the restructuring plan.
LOT began to improve its financial results in 2013. Last year closed with a slight loss on the core business of PLN 4M (USD1,237,360). This result was still better than assumed in the Restructuring Plan. Last year was also the first year of many in which LOT recorded a net profit. It amounted to PLN 26M (USD8,042.840).
LOT has also increased its transit capacities by as much as 40 percent, meaning passengers travelling via Warsaw are able to change more comfortably on their way to other cities in Poland and destinations in Central and Eastern Europe.
The first LOT Boeing 787 jets started flying in June with now all long-haul flights operated with Dreamliners since August. This aircraft is not only popular among the passengers, but brings tangible benefits, such as fuel savings.
In July 2014, the European Commission made a positive decision about LOT. The Restructuring Plan was approved and public aid was granted. The restructuring process of the company will end at the end of 2015. Until that time, LOT may not operate new flights. However, the first new flights are to be announced at the beginning of 2015.
LOT Polish Airlines, as one of the oldest airlines in the world, has been connecting Poland with the rest of the world since 1929. Its website is at www.lot.com.
LOT Polish Airlines improves financial standing
5 September 2014