Tag Archives: 35940

LOT Polish Airlines to return to Singapore

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LOT Polish Airlines has announced it is returning to Singapore ater 23 years. The carrier will restart the Warsaw – Singapore route on May 15, 2018 with Boeing 787-8 Dreamliners.

The Star Alliance member previously served Singapore from 1988 to 1995 according to Airline Route.

Bottom Copyright Photo: LOT Polish Airlines Boeing 787-8 Dreamliner SP-LRC (msn 35940) YYZ (TMK Photography). Image: 923866.

LOT Polish Airlines Boeing 787-8 Dreamliner SP-LRC (msn 35940) YYZ (TMK Photography). Image: 923866.

LOT announces increased frequencies to North America and new destinations

LOT Polish Airlines (Warsaw) in the winter season of 2016/2017 will enhance its presence in the US by increasing frequencies from New York (JFK) and Chicago (O’Hare) to Warsaw. The Polish carrier has also announced several new long-haul destinations from its Warsaw hub to Bangkok, Seoul and Tokyo (Narita). LOT will also launch more than a dozen new European connections, thus expanding its hub and providing convenient connecting flights to passengers flying to such cities as Ljubljana, Zurich, Cluj-Napoca and Nice.

The airline continued:

Long-haul flights are the most important part of LOT’s strategy. The first new long-haul flight is scheduled for January 13, 2016 and will be to Tokyo–the first direct connection from Poland and New Europe (Central and Eastern Europe) to Japan. Bangkok and Seoul will start in autumn 2016. The Polish carrier will also enhance its presence in New York and Chicago by adding two additional frequencies to its winter schedule from each city.

“Opening new long-haul destinations is essential for our development, which is why we will launch them as quickly as possible,” said Sebastian Mikosz, CEO of LOT Polish Airlines.

“Even now, connections operated by the Dreamliner (above) are the most profitable part of our business.

LOT is the only airline that offers on a larger scale, convenient, regular flights from Poland and New Europe to New York, Chicago, Toronto and Beijing. Four current connections will be supplemented with three more, and later this year, LOT will announce two new long-haul destinations to operate in 2016. After opening these five new destinations next year, LOT will more than double its network of long-haul connections compared to today. We want our hub to develop along with us. Opening more than a dozen European connections guarantees even more convenient transfers for new passengers from Poland and the entire region. But the new connections are just the start. Next year we plan to enhance our presence in those destinations where we already operate. This means, for example, an increased frequency of flights from Chicago and New York in the winter season.”

In addition to the new long-haul flights, LOT will begin to fly to three new destinations in Europe in 2016: from Warsaw to Venice and Cluj-Napoca (January) and to Ljubljana (March). LOT will also return to routes that were suspended due to the Restructuring Plan. Thus LOT’s passengers will be able to fly directly from Warsaw to Barcelona (January) and to Athens, Nice, Zurich and Beirut (March). From January 2016, flights between Warsaw and Belgrade, Dusseldorf, Yerevan, Chisinau, Zagreb and between Gdansk and Krakow will be restored, many of which are the connections suspended since July this year, as part of the final pool of compensatory measures required by the European Commission.

LOT is able to operate the entire first phase of its network development using only existing aircraft.

Copyright Photo: Chris Sands/AirlinersGallery.com. Boeing 787-8 Dreamliner SP-LRC (msn 35940) departs from Calgary.

LOT Polish aircraft slide show: AG Airline Slide Show

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LOT Polish Airlines to launch flights to Tokyo, will restore four routes

LOT Polish Airlines (Warsaw) has announced it will launch nonstop Boeing 787-8 Dreamliner flights from Warsaw to Tokyo (Narita) starting on January 13, 2016. The new route will operate three days a week.

In other news, according to Airline Route, the carrier will restore four routes to Belgrade, Chisinau, Yerevan and Zagreb in early January. These four routes were due to be dropped on July 1.

Copyright Photo: TMK Photography/AirlinersGallery.com. Boeing 787-8 Dreamliner SP-LRC (msn 35940) arrives in Toronto (Pearson).

LOT Polish Airlines aircraft slide show: AG Airline Slide Show

Photo below: LOT Polish Airlines. The economy cabin of the Boeing 787-8.

LOT Polish 787-8 Economy Cabin (LOT)(LR)

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LOT Polish Airlines produces its first profit in seven years

LOT Polish Airlines (Warsaw) is back in the black, producing its first profit in seven years. The airline issued this statement:

LOT ended 2014 in the black. With more than PLN 99 million ($26 million) profit on its core business of flying, LOT earned 40 percent more than it planned. This is the company’s first profit in seven years.

LOT was supposed to end 2014 with PLN 70 million ($19 million) profit on its core business but it is almost 30 million ($8 million) above the Restructuring Plan assumptions and 103 million ($27 million) more than in 2013.

“The company is steadily improving its situation, stabilizing its financial condition and getting ready for rapid growth in the next year,” said Sebastian Mikosz, CEO, LOT Polish Airlines. “The positive result on the core business, which is a key indicator of our company’s health, is of utmost importance since it has been achieved regardless of the compensation measures required by the European Commission.”

“Because of the public aid received, we had to cut the number of flights by almost eight percent in 2014, compared to the previous year. Nevertheless, we carried two percent more passengers and increased the revenue in comparison with 2013, while keeping a similar cost level,” continued Mikosz.

The company owes its positive results to consistent changes and initiatives included in the Restructuring Plan. Most of them were added as early as in 2013, but 2014 was the first full year to have seen the results. LOT continues to modernize and expand its sales channels, including mobile solutions. The quality of service is gradually improving. New products are being added to address new passenger groups in the market.

The new philosophy of building a network has also paid off. LOT has increased its connecting capacities by as much as over 40 percent in its Warsaw hub. Such connecting options are among the reasons why LOT has become the first choice for a constantly growing number of passengers from Poland as well as the entire Eastern and Central Europe region.

2014 was also the first year to have seen the Dreamliner effect since it was only in the entire past year that all long-haul flights were operated exclusively with these aircraft. The Boeing 787 Dreamliner is not only popular among passengers but provides tangible benefits, such as fuel savings. LOT currently operates six Dreamliners on its schedule network, leases them to other airlines and operates long-haul charter flights in the winter season. An efficient use of the Dreamliner fleet is included in the Restructuring Plan.

“The results in 2014 show we can operate effectively in this very competitive market, and there is a place for such a carrier as LOT,” added Mikosz. “However, we have to remember that this is just the first step of transformation and more challenges are ahead. This year, we are bound to repeat the financial success, as it is our goal to achieve sustained profitability and to move from restructuring to a rapid growth of the company.”

LOT has also improved other indicators. The EBITDA — indicator of company performance which determines the cash flow generating ability — also improved. EBITDA in 2014, is PLN 291 million ($77 million), compared to 2013 PLN 156 million ($41 million) and 2012 a minus PLN 346 million ($91 million).

The normalized net profit, i.e. without one-offs and accounting effects, is also positive and amounts nearly to PLN 36 million ($9.5 million). Taking into account the one-offs and accounting effects, related to the increase of currency exchanging rates (mainly of the dollar), a minus appears at the net result at the level of 263.4 million ($70 million). This is only an artificial accounting record having no effect on the actual financial health of the company. It is because the relationship between LOT’s earnings and spending in foreign currencies is fairly in balance. Therefore, no currency is in fact exchanged, but only the amounts are booked in PLN according to the valid standards. The net profit in the previous year amounted to PLN 26 million ($7 million). The normalized net profit in 2013 was a minus 67 million ($18 million).

Owing to the consistent improvement of its financial condition, LOT postponed and considerably reduced by as much as two thirds, the money it received from the second state aid tranche. At the end of 2014, LOT received PLN 127 million ($34 million.). It should be emphasized that the amount of state aid has no effect on the result.

The company’s growth policy for 2016 is underway. It will be announced in the next few months new short- and long-haul destinations. LOT will start flying on those routes at the beginning of the next year when the Restructuring Plan is formally ended.

Copyright Photo: SPA/AirlinersGallery.com. The airline attributes the turnaround to its game changing six Boeing 787-8 Dreamliners and its restructuring program as the main reasons for the change in fortunes.

LOT Polish Airlines aircraft slide show: AG Airline Slide Show

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LOT Polish Airlines returns to the black

LOT Polish Airlines (Warsaw) is enjoying a financial turnaround, especially with the help of its new Boeing 787-8 Dreamliners. The airline issued this statement:

LOT Polish Airlines has consistently improved its financial standing and is now in the black. At the end of August, the airline exceeded the cumulative breakeven point, thus making a profit on its core business of flying following years of losses. This is in line with the assumptions of the restructuring plan.

Sebastian Mikosz, CEO of LOT Polish Airlines said, “Compared to the corresponding period of 2013, we have attained a better result of PLN 100M ($30,934,000). LOT is seeking to achieve sustainable profitability and we have consistently pursued our goals to meet our annual financial forecast. According to the Restructuring Plan, approved by the European Commission, we are expected to achieve a return of approximately PLN 70M ($21,654,000) in 2014. Our improved effectiveness is marked in all aspects of our operations. Reaching the breakeven point is the exclusive success of the company’s activities. There are no market-specific factors, such as aviation fuel prices or currency exchange rates that helped us achieve these results, as was the case partially last year.”

LOT began to improve its financial results in 2013. Last year closed with a slight loss on the core business of PLN 4M ($1,237,360). This result was still better than assumed in the Restructuring Plan. Last year was also the first year of many in which LOT recorded a net profit. It amounted to PLN 26M ($8,042.840).

LOT continues to finance the difficult restructuring process exclusively with its own resources. By the end of September, the airline will not apply for the second tranche of public aid, which will be smaller than assumed.

LOT owes its positive results to continuous transitions. The carrier continues to improve the quality of services, launch new products, expand its portfolio and approach new passenger groups.

LOT has also increased its transit capacities by as much as 40%, meaning passengers travelling via Warsaw are able to change more comfortably on their way to other cities in Poland and destinations in Central and Eastern Europe.

2014 marks the first year of the “Dreamliner’s effect”. The first LOT Boeing 787 jets started flying in June with now all long-haul flights operated with Dreamliners since August. This aircraft is not only popular among the passengers, but brings tangible benefits, such as fuel savings.

In July 2014, the European Commission made a positive decision about LOT. The Restructuring Plan was approved and public aid was granted. The restructuring process of the company will end at the end of 2015. Until that time, LOT may not operate new flights. However, the first new flights are to be announced at the beginning of 2015.

Copyright Photo: TMK Photography/AirlinersGallery.com. The restructuring program and the new Boeing 787s are game changers for LOT. The 787s have also changed the way people think of the airline. Boeing 787-8 SP-LRC (msn 35940) arrives in Toronto (Pearson).

LOT Polish Airlines: AG Slide Show

LOT Polish Airlines introduces the Boeing 787 to New York

LOT Polish Airlines (Warsaw) inaugurated its new Boeing 787-8 with nonstop service from New York’s JFK to Warsaw yesterday (June 1). LOT also made aviation history as the first Dreamliner flight from New York’s JFK Airport as well as the first trans-Atlantic passenger flight.

The flight from Warsaw arrives at JFK at 4:40 p.m. (1640).  The return flight from JFK departs at 6:25 p.m. (1825) and arrives the next day in Warsaw at 9:35 a.m. (0935). The flights were previously operated with Boeing 767s.

Originally LOT had scheduled the JFK launch of the Dreamliner on June 30, but decided to speed up the actual implementation.  The next Dreamliner launch will occur in Chicago (O’Hare) on June 5, followed by Toronto (Pearson) on June 7.  LOT, the first European carrier to operate the Dreamliner, has three out of the eight ordered in its fleet and is expecting delivery of the fourth aircraft at the end of June.

LOT’s Dreamliner has 18 seats in Elite Club (business class), 21 in Premium Club (premium economy) plus 213 seats in economy class.

In preparation for the Dreamliner flights, LOT implemented a new design inspired by traditional and famous symbols of Poland. These changes are reflected in the new aircraft interiors, inflight menus with its new selection of beverages, on-board equipment, toys for children and other amenities. The quality of service offered is an additional asset with specially trained Elite Fleet cabin crews, new comfortable classes of service — Elite Club and Premium Club — as well as the unique product on board the aircraft.

Copyright Photo: Marcelo F. De Biasi/AirlinersGallery.com. The historic first arrival at JFK is recorded. Boeing 787-8 Dreamliner SP-LRC (msn 35940) prepares to touch down at JFK.

LOT Polish Airlines: AG Slide Show

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The European Commission approves the state aid to LOT Polish Airlines

LOT Polish Airlines (Warsaw) has received welcome news from the European Commission of the European Union. The EC was looking into the state aid the airline received last year. The commission stated the aid did fall into the guidelines for state aid and approved the loan from the government of Poland.

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Meanwhile the struggling carrier will relaunch Boeing 787-8 jet service on June 5 to Chicago (O’Hare) and  later, to New York (JFK), Toronto (Pearson) and Beijing.

Copyright Photo: Nick Dean/AirlinersGallery.com. A beautiful portrait of Boeing 787-8 SP-LRC (msn 35940) on a clear day at Paine Field near Everett.

LOT Polish Airlines: AG Slide Show