PLL LOT reports good financial results and looks to golden years ahead

For the third time in a row Polish Airlines (PLL LOT) has closed the year with financial results in the black. LOT reported zl.49.7 million in gross profits in 2000, that is zl.46.1 million more than at the end of 1999. The company’s revenues in 2000 reached zl. 373.6 million whereas in 1999 they were only zl. 264.9 million. The company has also bought eight new planes and increased the number of its flights. LOT’s encouraging results rekindled high hopes for the second stage of the carrier’s privatization and its debut on the WSE. According to the Treasury the improvement in LOT’s situation has enabled it to begin the second stage of its privatization. So far 37.6% of the company is in the hands of SAirGroup, the owner of Swissair. The ministry is also considering allowing LOT on the floor and the official decision can be expected before the second half of February. (Puls Biznesu, p.5) J.K.