LOT Polish Airlines narrows losses in 2011

Poland’s flag carrier LOT Polish Airlines recently announced its operational results for 2011 amid renewed hopes of profit this year.

LOT Polish Airlines in a statement said that it has significantly narrowed its losses in 2011 and is eagerly looking forward to generate a profit in 2012. The airline is making extensive efforts to restructure its operations and boost its passenger numbers.

The airline disclosed that its core operating loss narrowed to $46 million in 2011. The airline had to suffer losses because of increased fuel costs last year along with a decline in passenger traffic in Europe. However, the airline tried to narrow down the losses in 2011 by undertaking restricting measures aimed at significant cost cuttings. In 2009, LOT Polish Airlines had found itself in dire straits and on the brink of bankruptcy.   

This year LOT Polish Airlines flights hope to see an increase in passenger traffic by 9 percent. The airline also expects to generate an operating profit of $16.73 million in 2012.

The passengers will also find it easy to make LOT Polish flight reservations as the airline plans to start operating flights on the Warsaw-Beijing route in May, ahead of the delivery of new aircraft in November.