Polish Airlines LOT Achieved Record Results in 2023

fot. PLL LOT

Polish Airlines LOT achieved record results in 2023, generating over PLN 1 billion in net profit and PLN 1.129 billion in operating profit (EBIT). Sales revenue amounted to PLN 10.121 billion, and the number of passengers exceeded 10 million. July was particularly successful, with the carrier serving over a million passengers in a single month. During the summer period, from June to September, the number of passengers reached over 4.1 million.

The most popular routes among LOT passengers were Warsaw-Toronto, Warsaw-New York, and Warsaw-Chicago. Within Europe, flights from Warsaw to London, Vilnius, and Amsterdam were the most in demand. Throughout the past year, LOT's aircraft performed 102,212 take-offs.

The President of PLL LOT, Michał Fijoł, emphasized the punctuality, hospitality, and profitability of the carrier. Last year, LOT launched new connections, including to Riyadh, Tashkent, and Oradea, and resumed flights to Athens. New destinations, including Innsbruck, were also announced. LOT's fleet is set to increase from 76 to 86 aircraft by the end of 2023, as part of the company's development strategy.

LOT expanded its network beyond Warsaw, offering flights from regional airports to Seoul, Istanbul, Milan, Paris, and Rome. New routes to Tashkent and Riyadh have gained significant popularity, creating opportunities for tourism and business development in Asia and the Arabian Peninsula.

The carrier also plans investments in airport infrastructure, including the expansion and modernization of the Polonez business lounge and the opening of an Executive Lounge in Chicago. A process of modernizing the Dreamliners is also planned to enhance travel comfort.

In October 2023, LOT presented its strategy for 2024-2028, which includes the introduction of nearly 20 new routes and the purchase of new aircraft equipped with the latest generation engines, aimed at reducing CO2 emissions. By 2028, the PLL LOT fleet is expected to grow by over 30 new aircraft.

Founded in 1929, PLL LOT is one of the oldest airlines in the world. The main shareholder is the State Treasury, holding 69.30% of shares, while the remaining shares (30.7%) are held by the Polish Aviation Group (PGL), also wholly owned by the State Treasury.