LOT's 2004 results show the carrier is still off course

Last year, the company serviced 3.93 million passengers, up 8.4% on 2003. Despite this fact, the company failed to show profits on its core operations in 2004, but plans to record around zł.100 million on them in 2006. This year, the national carrier plans to cut operational costs by zł.300 million thanks to axing 300 jobs and by limiting remuneration costs by zł.50 million. This year's results will also be affected by planned sales of the company's subsidiaries, such as LOT Auto Services and LOT Catering. For the first time in several years, LOT managed to record profits on transatlantic routes. According to initial data, this profit stood at about zł.40-50 million. In an attempt to improve its standing, LOT plans to open a series of new routes, including to the U.S., South East Asia and Great Britain. (Rzeczpospolita, p. B4) A.K.