Poland Aerospace Polish airline LOT to expand to 20 new destinations

LOT CEO Michał Fijoł says the strategy involves launching 20 new destinations, including routes to the United States, Canada, Vietnam, Thailand, China, South Korea and Japan. Expanding the airline’s footprint in Europe and enhancing connectivity between Poland and Ukraine are also on the cards.

To facilitate this growth, the company will require up to 110 aircraft, a significant increase from its current fleet of 75, according to executives. The company especially aims to expand in the segment of medium and long-distance routes, supported by a contract for two more Boeing 787 MAX 8 planes. From January to August this year, LOT transported about 7 million passengers, with direct flights to airports in Europe and long-distance voyages to the United States, Canada, China, Japan and South Korea. Last year, the carrier earned a profit of PLN 113.7 million on revenues of over PLN 8.3 billion. It transported 8 million passengers and conducted more than 85,000 flights.

The government is the main shareholder of LOT, holding 69.3 percent of the stock, followed by the Polish Aviation Group (PGL), which holds 30.7 percent and is fully owned by the State Treasury. This implies a vital stake and interest of the Polish government in the national carrier, which often positions the airline in strategic plans to boost tourism and international connections.

Since the 20 new destinations include new routes to the U.S., this is also an opportunity for the U.S. travel industry as American tourists and business travelers will be able to travel faster and more convenient to Poland.