Poland’s troubled airline makes profit in 2013
WARSAW, Poland (AP) — Poland’s LOT airline says that Boeings 787 and heavy restructuring have helped the company make a profit in 2013 profit, the first in five years.
LOT spokeswoman Barbara Pijanowska-Kuras said Thursday that net profit was 26 million zlotys ($8.6 million), compared with a 196 million zlotys loss the indebted carrier was expecting.
She said the result was achieved largely thanks to LOT’s fleet of fuel-efficient Boeings 787 that since the summer are flying from Warsaw to New York, Chicago, Toronto and Beijing.
Cutting administrative costs, restructuring of employment and more effective ticket sales were also a factor.
The European Commission is still to decide whether to allow some 100 million euros that LOT has received in government aid. LOT says it will need more support this year.