LOT to post a profit for 2016

State-owned Polish airlines LOT were profitable in 2016 and will post a PLN 200 million profit from its core activities, according to company's press official Adrian Kubicki who cited the company's unaudited financial data. “LOT estimates that the result on core activities will be close to PLN 200 mln, a result better than budgetary assumptions and better than in previous years,” Kubicki said, adding that the airline will also post a net profit in 2016. For 2015, the company posted a PLN 327 million loss, while the core business was PLN 46.5 million in the red. The company was in trouble in the last few years and even asked for public aid back in 2012. After the review of the European Commission, the state was allowed to loan the fledging airline PLN 800 million. After some better than expected performance, the company received PLN 412 million.