LOT generates PLN 99 million profit in 2014

Last year, the airline also managed to improve its EBITDA (earnings before interest, taxes, depreciation, and amortisation) to land in at PLN 291 million following 2013 results of PLN 156 million and 2012 results of PLN -346 million.

The number of passengers on LOT flights also rose by 2 percent year-on-year in 2014, the carrier announced.

At the end of July 2014, the European Commission greenlighted state aid for the airline, also rubberstamping a restructuring plan for the company.

However, due to LOT’s improving financial situation, the airline used only PLN 127 million, PLN 250 million less than initially envisaged. (jb)

Source: PAP