LOT with profits on passenger traffic

Image : LOT Polish Airlines

Poland’s national airline LOT has started having a profit from its basic operations, the transport of passengers, the company’s CEO Sebastian Mikosz told the Polish Press Agency on Wednesday.

“We are following the restructuring plan that was approved by the European Commission,” Mikosz said. “Nothing overwhelming, but also nothing to be sad about. We are very careful, because the plan is ambitious.”

“I can say, however, that after eight months of this year we are in the black,” Mikosz stressed.

The CEO added that at least until the end of September LOT would not ask for the second tranche of public aid from the Treasury Ministry, as the company’s financial liquidity is sufficient.

Earlier this year, the European Commission approved the state’s aid for LOT. According to the plan, the support may consist of two tranches, one of which was paid out as a loan in December 2012.

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