LOT Polish Airlines rebuilds record equity following strong 2024
February 26, 2025
LOT Polish Airlines has recorded its second-highest financial result in recent decades, generating revenues of USD $2.52 billion and achieving a net profit of $174.74 million. As a result, the airline succeeded in rebuilding its equity to “record levels” during the year, reaching $0.29 billion at the end of 2024, compared to -$186.34 million at the end of 2021.
Despite the impact of increased market competition and lower ticket prices, the Polish national carrier maintained an operating profit margin of 8.1%; something it attributes to “active network management, maximisation of unit revenues, disciplined cost control, and effective utilisation of opportunities within the charter market, despite rising service costs”.
LOT Polish Airlines carried a record 10.7 million passengers over the course of the year, with its fleet now standing at the largest in its history. The addition of 11 new aircraft in 2024) including seven 737 MAX 8s, three E195 E-2s and one E195) took its total aircraft to 86, with the carrier also eyeing further expansion. With LOT planning to almost double its current fleet by 2032, LOT spokesperson Krysztof Moczulski told AFP: “We are analysing the offers for the Airbus A220-300 and the Embraer E195-E2,” with the decision to be taken “in the coming months”.
LOT’s most popular domestic routes in 2024 were Krakow, Wroclaw and Gdansk, while London, Vilnius and Bucharest topped the short-haul charts. “Thanks to [our team’s] hard work, LOT has become the airline of choice in the region, and it will soon become the main carrier at Europe’s most modern airport – [Poland’s upcoming] Central Communication Port,” explained Michal Fijol, president of LOT’s management board.
Alongside its scheduled services, LOT also increased available seat kilometres for charter flights by 10.6%, carrying 1.3 million charter passengers in 2024 (a rise of 18.5%). This was made possible by cooperating with major travel agencies, and capitalising on market potential at Warsaw and regional airports.
