LOT Polish Airlines Achieved Record Results in 2024

 

Last year, the national carrier reported an operating profit of PLN 805.7 million and a net profit of PLN 688.5 million. In 2024, LOT Polish Airlines carried 10.7 million passengers and ended the year with a fleet of 86 aircraft.

In 2024, LOT Polish Airlines recorded its second-highest financial result in recent decades, generating revenues of PLN 9.93 billion. The national carrier achieved a net profit of PLN 688.5 million and an operating profit (EBIT) of PLN 805.7 million. Despite increased market competition and lower ticket prices, the airline maintained an operating profit margin of 8.1%. This result was driven by active network management, maximisation of unit revenues, disciplined cost control, and effective utilisation of opportunities within the charter market, despite rising service costs. These strong financial results allowed LOT Polish Airlines to rebuild its equity to record levels – reaching PLN 1.142 billion at the end of 2024, compared to PLN -734.2 million at the end of 2021, and PLN 508.0 million at the end of 2019.

Last year, LOT Polish Airlines carried a record 10.7 million passengers – almost 0.7 million more than in 2019. This achievement was made possible by the addition of 11 new aircraft, including seven Boeing 737 MAX-8s, three Embraer 195 E-2s, and one first-generation Embraer 195. By the end of December, LOT Polish Airlines had expanded its fleet to 86 aircraft, the largest in the carrier’s history.

In 2024, the national carrier also strengthened its presence in the charter flight segment. By cooperating with major travel agencies and capitalising on market potential at Warsaw and regional airports, LOT Polish Airlines increased available seat kilometres (ASKm) for charter flights by 10.6%, from 3.9 billion in 2023 to 4.3 billion in 2024. The airline carried 1.3 million charter passengers in 2024, representing an 18.5% increase compared to 1.1 million in 2023. Additionally, the total number of charter flights rose by 16.4%, from 6,300 in 2023 to 7,300 in 2024.

LOT Polish Airlines is now larger and financially stronger. These are the foundations of our strategy, which we are consistently implementing. I’d like to thank the entire LOT Polish Airlines team and all our partners. Thanks to their hard work, LOT has become the airline of choice in our region, and it will soon become the main carrier at Europe’s most modern airport – the Central Communication Port (CPK).

Michał Fijoł, President of the Management Board of LOT Polish Airlines

Last year, LOT Polish Airlines introduced eight new routes, connecting Warsaw with Tashkent, Oradea, Riyadh, Lyon, Athens, Larnaca, Tenerife, and Innsbruck.

LOT Polish Airlines performed 107,926 flights in 2024, covering a total distance of 148 million kilometres and logging 249,000 hours in the air. The most popular domestic routes were Krakow, Wroclaw, and Gdansk. Among short-haul flights, passengers most frequently travelled to London, Vilnius, and Bucharest. For long-haul flights, New York, Toronto, and Chicago were the top destinations.

I’d like to thank our passengers for every journey they take with us. Our crews and the entire LOT Polish Airlines team do their utmost to ensure every trip meets your expectations. With new aircraft joining our fleet, we’re offering even more exciting destinations. Plus, the recently opened LOT Business Lounge in Chicago, along with the expanded and renovated Polonez lounge in Warsaw, greatly enhance the travel experience for our business passengers.

Michał Fijoł, President of the Management Board of LOT Polish Airlines

Last year brought more than just new aircraft and routes. The national carrier also introduced distinctively Polish touches, such as metal cutlery from Gerlach in LOT Economy class on medium- and long-haul scheduled flights, new uniform elements inspired by the Young Poland artistic movement, and amenity kits featuring Polish products. Additionally, LOT Polish Airlines completed two significant investments: the construction of a new business lounge in Chicago and the expansion and renovation of the LOT Business Lounge Polonez at Warsaw Airport.

LOT Cargo also reached important milestones in 2024. LOT Polish Airlines earned two additional prestigious IATA certifications: CEIV Fresh, which recognises the airline’s exceptional standards in transporting perishable goods, and CEIV Lithium Batteries, highlighting its expertise in safely handling and transporting lithium-ion batteries and their components.

Tags: Michał Fijoł,  LOT Polish Airlines