LOT Polish Airlines reports $28 Million Profit In 2022

Monday, July 10, 2023

LOT Polish Airlines, the flag carrier of the Central European nation, announced its financial results for 2022, a report that served as the culmination of months of data analysis and preparation.

In the report, the carrier logged a gross profit of $28 million, bouncing back from a $320 million loss the airline had incurred the previous year. Notably, the airline’s 2022 profit is its highest since 2018, when the carrier posted net results of over $53 million.

The airline has clearly demonstrated its ability to bounce back from the challenges created by COVID-19 and perform profitably in a post-pandemic world.

Aside from the airline’s net positive profit, additional data points are important to note from LOT’s financial results announcement. Specifically, the breakdown of the revenue generation from the carrier’s two major divisions, LOT Polish Airlines (passenger) and LOT Cargo, provides some interesting insights.

During the passenger travel slowdown of 2020 and 2021, cargo demand skyrocketed, and LOT, like many airlines, expanded its cargo operations to meet the market surplus. Now, from these financial results alone, we can see how LOT Cargo’s efforts over the past two years have begun to pay dividends.

In 2022, LOT Cargo notably doubled the size of its partnership with Edinburgh-based Menzies, a leading player in cargo operations at airports across Europe.

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