National carrier LOT Polish Airlines has reported a remarkable profit of over PLN 113.7 million (EUR 25.5 million) for 2022, along with revenues exceeding PLN 8.3 billion.
In a resounding success for LOT Polish Airlines, the General Shareholders Meeting approved the Company’s financial statement for 2022.
2022 strong performance
The year proved to be a turning point for the airline, with impressive financial figures showcasing its profitability and growth.
Additionally, LOT Cargo achieved a record-breaking PLN 755 million in revenue. These exceptional results are a testament to the gradual implementation of a robust commercial and operational strategy, propelling the company towards a path of sustained development.
The achievements of LOT Polish Airlines in 2022 instill optimism regarding the company’s future growth potential.
Throughout the year, the national carrier’s aircraft completed an impressive tally of over 90,000 flights, catering to nearly 8 million passengers. The Load Factor, indicating the seat occupancy rate, surpassed a commendable 80%.
Operational challenges overcome
The airline recorded this outstanding result in the face of significant economic and geopolitical challenges. LOT has been one of the airlines most affected by the war in Ukraine; having cancelled 11 route connections as a result of the neighbouring conflict.
Like others, the airline has also faced the more universal challenges of a return to functionality in the wake of the global pandemic.
Michał Fijoł, the President of the Management Board of LOT Polish Airlines, expressed his appreciation for the entire PLL LOT team’s tremendous efforts and dedication, which have contributed to these outstanding results.
“The data we’re publishing is the culmination of the enormous work and commitment exercised by the entire PLL LOT team. Passengers, business customers and LOT’s commercial partners – all are at the centre of our attention.”
“And the company’s financial results are a testimony to the fact that we know how to address their expectations properly,” said President Fijoł.
With passengers, business customers, and commercial partners at the core of their focus, the company has effectively met their expectations.
Moreover, the notable financial performance instills cautious optimism regarding the repayment of liabilities resulting from state aid and the realization of ambitious development goals.
President Fijoł proudly shared the Cirium ranking, highlighting LOT Polish Airlines’ exceptional punctuality. The airline has consistently ranked among the top three most punctual airlines in Europe over the past few months.
This achievement further underscores LOT’s commitment to profitability, hospitality, and punctuality.
About LOT Polish Airlines
LOT Polish Airlines (LOT) is the flag carrier airline of Poland. It was founded in 1928 and is headquartered in Warsaw.
The airline operates a fleet of over 80 aircraft, including Boeing 787 Dreamliners, Boeing 737 MAX aircraft, and Embraer 190s. LOT flies to over 100 destinations in Europe, Asia, and North America.
LOT Polish Airlines has enjoyed a prosperous year marked by impressive financial figures, exceeding expectations.
The company’s stated dedication to customer satisfaction, coupled with its strong operational strategy, seems to have certainly paved the way for its profitable development.
As LOT continues to soar to new heights, its stated commitment to excellence should hopefully ensure a bright future for the Polish national carrier and its stakeholders.