The airline market is difficult because of increasing fuel prices and stronger zloty. Nevertheless, in the three quarters of this year, LOT has managed to generate PLN 143m (EUR 39.2m) of financial result, or 66 percent more than in the same period of last year.
“It is thanks to higher cost discipline. There are 9 teams analyzing financial cash flow and profitability of routes”, Piotr Siennicki, LOT CEO said.
He added that last year, the company had operating loss of PLN 43m.
“In 9 months of this year, we had PLN 83m of operating income. It should amount to PLN 50-60m at the end of the year. We had improvement in all key economic indicators”, LOT CEO stressed.
The airline had 7 percent more flights and 16 percent more passengers.
The management has launched implementation of four-year strategy providing for, among others, fleet exchange, listing in the middle of next year and over PLN 200m of income in 2012. The company is negotiating with Embraer to buy new planes and wants to renegotiate the contract with Boeing because there are delays in deliveries of Dreamliners.
(PLN 1 = EUR 0.274)