LOT narrows losses as Ryanair takes another step east

LOT - Polish Airlines narrowed its year-to-date losses (nine months to 30-Sep-2011) amid difficult trading conditions this year. The improved performance is part of the carrier's plans to improve its financial position ahead of privatisation, which is now expected in 1H2012.

While LOT has been hard at work on its restructure, LCCs have been eyeing the Polish market. Wizz Air and Ryanair, the second and third-largest airlines in Poland behind the national carrier, have been making moves to take a larger slice of the market. Ryanair recently stepped up its campaign, announcing plans to launch its first Polish base in Wroclaw, which, along with Wizz Air's presence could threaten LOT's new strategy.