LOT financial results are getting better and better

Warsaw, 7th September 2011 – On the first Day of the 21st Economic Forum in Krynica Marcin Piróg, LOT Polish Airlines CEO, informed that his company had achieved good results in the summer months of 2011.

Marcin Piróg reported financial results for the beginning of the third quarter of 2011 and compared them with the half-year results announced in late July. Referring to the company’s strategy, he informed that despite rising prices of fuel LOT managed to maintain a growth rate. In comparison with July 2010 the number of passengers on medium-haul flights has increased by 7.2 per cent and on domestic flights by 4.4 per cent.

“It appears that our optimism resulting from the satisfactory results achieved in the first half of the year wasn’t premature,” said Marcin Piróg, LOT Polish Airlines CEO. “The results we achieved in July and August prove the effectiveness of the strategy we have adopted.”

The net result for the first seven months of 2011 amounts to PLN 140.3 million which is a vast improvement over minus 64.5 million last year. One of the reasons behind such a result were the capital transactions conducted by LOT at the beginning of the year.

The return on ordinary activities in July amounted to PLN 28.6 million and was higher than the one achieved in July 2010 by 27.1 million.

In July 2011 transport results in Business Class improved by 32.1 per cent on short/medium-haul flights and by 26.8 per cent on long-haul flights compared to the same period last year.

Punctuality and regularity of flights operated by LOT have also improved. The average punctuality of service amounted to 84.7 per cent and the regularity reached 97.4 per cent.

In August, there was also an increase in ticket sales related to intensification of B2B sales. Ticket sales have increased by 10% compared to August 2010.