Photo: Shutterstock Record Results and Impressive Financial Momentum for LOT Airlines.
The Polish airline reported an operating profit of 177.3 million euros and a net profit of 151.5 million euros in 2024, while maintaining an operating margin of 8.1%.
The airline's revenues soared to 2.18 billion euros, and it succeeded in increasing its equity to an unprecedented level of 251.2 million euros - a significant improvement compared to the negative 161.5 million euros in 2021.
Over the past year, LOT transported 10.7 million passengers - about 700,000 more than in 2019, making 2024 one of the most successful years in the company's history.
The fleet expansion contributed to this achievement, with the addition of 11 new aircraft, including seven Boeing 737 MAX-8, three Embraer 195 E-2, and an Embraer 195 from the first generation. Altogether, the company ended the year with 86 aircraft - the highest number in its history.
LOT, represented in Israel by Open Sky, strengthened its position in the charter flight market, with a 10.6% increase in available seats, reaching 4.3 billion seat kilometers in 2024. The company flew 1.3 million passengers on charter flights, an increase of 18.5% compared to 2023, with the number of charter flights rising to 7,300 - a 16.4% increase.
LOT launched eight new routes in 2024, connecting Warsaw with Tashkent, Oradea, Riyadh, Lyon, Athens, Larnaca, Tenerife, and Innsbruck. In total, the company operated 107,926 flights, crossed 148 million kilometers, and recorded 249,000 flight hours.
The Most Popular Destinations:
Domestic Flights: Krakow, Wroclaw, Gdansk
Short-Haul Flights: London, Vilnius, Bucharest
Long-Haul Flights: New York, Toronto, Chicago
In 2024, LOT invested significantly in enhancing customer experience, with the launch of a new business lounge in Chicago and an upgrade to the "Polonez" Lounge in Warsaw. Additionally, the company introduced luxury Polish-made tableware, crew uniforms inspired by the Young Poland movement, and new comfort kits with original Polish products.
In 2024, LOT received two prestigious IATA certifications in the cargo sector:
CEIV Fresh - for stringent standards in the transportation of sensitive food products.
CEIV Lithium Batteries - for expertise in the safe handling of lithium battery shipments.
The company's president, Michał Piotr, concluded: "LOT is bigger and stronger than ever, which is the foundation for our continued growth. Thanks to the hard work of our team and partners, we have become the preferred airline in the region - and soon we will become the leading carrier at the new and advanced airport in Europe, the Central Communication Port (CPK)."