newstodate.aero
NOV 23, 2004 (newstodate): Polish airline LOT is facing a tough future as traffic volumes fail to follow market trends, and costs soar.
LOT has now published a plan to cut costs by 500 million Zloty in 2006.
Redundancies, re-negotiation of aircraft leasing agreements and reduced commissions are among the ingredients in the plan to slim the airline.
According to the media, the Polish market for air travel has grown by 23 percent, but LOT has only fetched a 10 percent increase due to stiff competition from budget airlines and carriers like British Airways.
LOT has now published a plan to cut costs by 500 million Zloty in 2006.
Redundancies, re-negotiation of aircraft leasing agreements and reduced commissions are among the ingredients in the plan to slim the airline.
According to the media, the Polish market for air travel has grown by 23 percent, but LOT has only fetched a 10 percent increase due to stiff competition from budget airlines and carriers like British Airways.