17-Sep-2010 1:27 PM

LOT Polish Airlines reaches FY2010 profit targets in seven months

LOT Polish Airlines stated (15-Sep-2010) the carrier’s operational and financial performance in the first seven months of 2010 have exceeded expectations, adding it has achieved its forecast profit for the year. Details include:

  • Revenue*: EUR410.1 million, +0.4% year-on-year
  • Passenger numbers: 2.5 million, +12%;
  • Operating profit (loss): (EUR8.8 million), compared with operating losses of EUR43.0 million and EUR44.2 million in the corresponding periods in 2009 and 2008, respectively;
  • Net profit (loss): (EUR16.2 million), compared with a net loss of EUR31.4 million and EUR29.8 million in the corresponding period in 2009 and 2008, respectively. [more]

* Based on the conversion rate at EUR1 = PLN3.95533

The carrier also reported 70% load factor in 1H2010, an improvement of 5 ppts and 2 ppts from corresponding periods in 2009 and 2008, respectively.