LOT Polish Airlines posted its 2024 full-year financial results on February 26, 2025.
The Polish flag carrier has recorded one of its highest financial years to date, with revenues of PLN 9.93 billion (US$ 2.51 billion approximately) and a net profit of PLN 688.5 (US$174 million). Operating profit (EBIT) was PLN 805.7 million (US$204 million), which represents an operating margin of 8.1%.
The airline’s management has attributed the positive results to a combination of network optimization measures, cost control and the successful pursuit of opportunities in the charter market.
This latter segment represented 1.3 million passengers of the 10.7 million carried in total by the Polish airline in 2024, an increase of 18.5% over the previous year.
LOT has also grown in capacity, with 11 aircraft joining its fleet in the course of the year, bringing it the total of aircraft to 86, as of February 2025.
The new aircraft additions included seven Boeing 737 MAX 8s and three Embraer 195 E-2s, as well as one legacy E195.
LOT’s fleet is expected to increase in 2025 with at least three additional Boeing 737 MAX 8 aircraft leased from BOC Aviation.
In March 2024 it was also reported that LOT was looking at potentially larger aircraft orders to continue renewing and expanding its fleet in the near future and ahead of its expected move to the new Central Communication Port (CPK in its Polish acronym) airport and logistics hub at the start of the next decade.
As per network expansion, LOT’s route network saw the addition of eight new destinations from Warsaw (WAW). The geographical footprint of those new routes extends from Central Asia and the Middle East, with Tashkent (TAS) and Riyadh (RUH), to leisure island destinations such of Tenerife (TFS) and Larnaca (LCA) as well as Oradea (OMR), Lyon (LYS) and Innsbruck (INN), in mainland Europe.
However, LOT plans to discontinue its only remaining long-haul route out of Budapest (BUD). The two weekly services linking the Hungarian capital to Seoul (ICN) will be discontinued after March 26, 2025. The Boeing 787 aircraft that operated this route will be redeployed to its Warsaw hub in order to increase the number of frequencies linking the Polish capital to Seoul from four to six weekly.
