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PLL LOT – revenues and profit in 2022. The airlines provided the data

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Over PLN 113.7 million profit with revenues exceeding PLN 8.3 billion – such data were presented by LOT Polish Airlines. The company also announced that it carried nearly 8 million passengers on board its aircraft last year.

The indicators achieved by LOT in 2022 allow us to look at the development potential of the company with optimism. LOT Polish Airlines in the press release provided to PAP.

PLL LOT – profit and revenue in 2022

As added, the planes of the national carrier last year made over 90,000 flights, carrying nearly 8 million passengers on board, and the seat occupancy rate exceeded 80%.

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The General Meeting of PLL LOT approved the company’s financial statements for 2022; last year, PLL LOT generated over PLN 113.7 million in profit with revenues exceeding PLN 8.3 billion, the company said.

“LOT is profitable”

As indicated by the president of PLL LOT, Michał Fijoł, the carrier’s financial results “also allow us to look at the prospect of repayment of liabilities resulting from state aid and the implementation of our ambitious development assumptions with cautious optimism.” – LOT is profitable, LOT is hospitable, LOT is punctual – stressed Fijoł.

The company also announced that in 2022 LOT Cargo generated a record PLN 755 million in revenue.

LOT estimates that it is returning “on the path of profitable development possible thanks to the consistently implemented commercial and operational strategy”.

The company reminded that PLL LOT “are one of the most affected by war in Ukraine airline.” “As a result of the war, 11 connections operated by LOT were cancelled. Due to the need to avoid the zone affected by the conflict, long-haul flights to Asia, depending on the route, have been extended by more than 2 hours. which led to the greatest crisis in the history of civil aviation.

The Management Board of LOT Polish Airlines in March this year. forecast that in 2022 the company generated over PLN 100 million in net profit.

In August 2022, PLL LOT reported that for 2021 they recorded a loss on core business in the amount of PLN 1,327 million. In 2020, LOT recorded a loss of PLN 1.41 billion compared to PLN 68.9 million in profit in 2019.

In 2020, during the COVID-19 pandemic, LOT received a total of almost PLN 3 billion in public aid, of which PLN 1.7 billion was a loan from the Polish Development Fund, and the rest came from recapitalization through the acquisition of additional company shares by the State Treasury.

PLL LOT flies directly to ports in Europe, and long-haul flights are carried out to airports in the United States, Canadachina, Japan and South Korea. Last year, LOT carried 8 million passengers, performing over 85,000 flights. flights. The main shareholder of PLL LOT is the State Treasury, which holds 69.3 percent. shares in the company. The second shareholder with 30.7 percent. is the Polish Aviation Group (PGL), 100% owned by to the State Treasury.

Main photo source: Shutterstock

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