LOT maintains profitable performance as fleet expands to highest level

Polish flag-carrier LOT is claiming a strong full-year performance with an operating profit of zl806m ($205m) and net profit of zl688m, athough both are down on the previous figures. The airline attributes the achievement to “active network management” and “disciplined cost control” as well as “effective utilisation” of charter market opportunities. LOT’s revenues reached zl9.93b for 2024. The company says the financial results are its second-highest “in recent decades”, reached despite increased market competition and softer fares. LOT has managed to “rebuild” its equity over the last three years, to zl1.14b from a negative zl734m at the end of 2021. It introduced 11 new aircraft last year, comprising seven Boeing 737 Max 8s and three Embraer 195-E2s, plus an older-variant E195 – taking the carrier’s fleet to 86, its highest level. Management board president Michal Fijol says LOT is “larger and financially stronger”. “With new aircraft joining our fleet, we’re offering even more exciting destinations,” he adds. The carrier opened eight new routes from Warsaw last year, among them Athens, Tashkent, Riyadh and Innsbruck. LOT increased its charter presence by hiking available capacity by more than 10%. Charter passengers rose by over 18%, to 1.3m, while LOT’s total passenger numbers of 10.7m exceeded pre-pandemic levels.<br/>