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SQ22
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LOT News and Discussion Thread - 2021

Thu Dec 31, 2020 2:41 pm

Welcome to the LOT News and Discussion Thread 2021. Please continue to post your news and your discussion here.

Link to previous thread:

LOT News Thread - 2020
 
tomgle
Posts: 152
Joined: Tue Apr 03, 2018 4:20 pm

Re: LOT News and Discussion Thread - 2021

Wed Jan 20, 2021 6:04 pm

https://businessinsider.com.pl/firmy/st ... ia/we1cek9
According to this interview with Milczarski (CEO), LOT will begin retiring the Q400's this year. I'm surprised, as I'd have thought it would make sense to keep more efficient planes such as turboprops, and instead remove another type perhaps. Apparently the main reason they're being retired though is to reduce the money spent on aircraft leasing.
 
Blerg
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Re: LOT News and Discussion Thread - 2021

Thu Jan 21, 2021 5:08 am

Will begin retiring... I wonder at what rate and by when they expect them to be gone. Maybe they don't think demand will recover for a while so no need for extra capacity. I thought they would be more economical than E70/75.
 
SRQLOT
Posts: 536
Joined: Sat Nov 04, 2017 6:05 pm

Re: LOT News and Discussion Thread - 2021

Thu Jan 21, 2021 6:10 am

Due to required staff cuts with the Covid loan and with the Q400 mostly going away in 2022 it makes sense to speed up the retirement of that type no? I think the plan was to have only 2 Q400 in 2023 because of the leases, so if you can get out of them earlier it makes sense.

With some domestic routes being suspended and now 4 European routes suspended too for the near future there is even less need for aircraft.
LO LH CL BA AZ WN UA DL AA B6 NK G4 F9
717 733/7/8/9/M8 744 752/3 763 772 788 319/20/21 332/3 M90 RJ85 CR9 Q400 E7/95 (PA28,152)
 
Blerg
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Joined: Tue Jan 09, 2018 11:42 am

Re: LOT News and Discussion Thread - 2021

Thu Jan 21, 2021 6:21 am

SRQLOT wrote:
Due to required staff cuts with the Covid loan and with the Q400 mostly going away in 2022 it makes sense to speed up the retirement of that type no? I think the plan was to have only 2 Q400 in 2023 because of the leases, so if you can get out of them earlier it makes sense.

With some domestic routes being suspended and now 4 European routes suspended too for the near future there is even less need for aircraft.


What 4 European routes have they suspended?
 
SRQLOT
Posts: 536
Joined: Sat Nov 04, 2017 6:05 pm

Re: LOT News and Discussion Thread - 2021

Thu Jan 21, 2021 7:39 am

Blerg wrote:
SRQLOT wrote:
Due to required staff cuts with the Covid loan and with the Q400 mostly going away in 2022 it makes sense to speed up the retirement of that type no? I think the plan was to have only 2 Q400 in 2023 because of the leases, so if you can get out of them earlier it makes sense.

With some domestic routes being suspended and now 4 European routes suspended too for the near future there is even less need for aircraft.


What 4 European routes have they suspended?


This is in Polish.

But Düsseldorf, Luxembourg, Milan and Vienna till February 28, 2021
In Poland Katowice and Poznań starting Feb 1 for 4 weeks.
Overall not too bad and obviously because of Covid hitting hard and restrictions throughout Europe.
Also decreased frequencies to other European cities.

https://www.tvp.info/51872593/koronawir ... y-tvp-info
LO LH CL BA AZ WN UA DL AA B6 NK G4 F9
717 733/7/8/9/M8 744 752/3 763 772 788 319/20/21 332/3 M90 RJ85 CR9 Q400 E7/95 (PA28,152)
 
tomgle
Posts: 152
Joined: Tue Apr 03, 2018 4:20 pm

Re: LOT News and Discussion Thread - 2021

Tue Jan 26, 2021 9:33 pm

https://www.pasazer.com/news/45172/loto ... namie.html
So apparently LOT have been leasing 3 E195s to Bamboo Aiways of Vietnam since Oct/Nov last year. One of them was recently involved in an emergency landing (source in Polish).
Also, for those of you who speak Polish, here's an interesting article comparing the performance of LOT, Austrian, and Finnair between 2015 and 2019: https://www.pasazer.com/news/45091/anal ... ntami.html
 
Blerg
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Joined: Tue Jan 09, 2018 11:42 am

Re: LOT News and Discussion Thread - 2021

Wed Jan 27, 2021 7:06 am

I read somewhere that LO laid off around 300 people. Anyone know more on this? Who exactly was laid off?
 
SRQLOT
Posts: 536
Joined: Sat Nov 04, 2017 6:05 pm

Re: LOT News and Discussion Thread - 2021

Wed Jan 27, 2021 8:45 am

Blerg wrote:
I read somewhere that LO laid off around 300 people. Anyone know more on this? Who exactly was laid off?



It was a requirement by the EU in part for the Covid loan, LOT had to prove that it would be able to pay off the loan after the crisis. I don’t remember what amount was a loans and what was a grant though.

150 will be laid off within these 2 quarters, the other 150 will reach retirement in the next 2 years. I believe it is a mix of everybody at LOT, unfortunately under the old good contracts. Also 200 were laid off already last year on so called garbage contracts.


In Polish.
https://www.money.pl/gospodarka/pll-lot ... 9984a.html

Overall not too bad considering it’s over a 2 year period, also with Q400s leaving the fleet this year I wouldn’t be surprised if they won’t hire more next year once everything picks up, unfortunately it be under garbage contracts.
LO LH CL BA AZ WN UA DL AA B6 NK G4 F9
717 733/7/8/9/M8 744 752/3 763 772 788 319/20/21 332/3 M90 RJ85 CR9 Q400 E7/95 (PA28,152)
 
artflyer
Posts: 156
Joined: Thu Jun 06, 2019 4:08 pm

Re: LOT News and Discussion Thread - 2021

Wed Jan 27, 2021 10:33 am

SRQLOT wrote:
Blerg wrote:
I read somewhere that LO laid off around 300 people. Anyone know more on this? Who exactly was laid off?



It was a requirement by the EU in part for the Covid loan, LOT had to prove that it would be able to pay off the loan after the crisis. I don’t remember what amount was a loans and what was a grant though.

150 will be laid off within these 2 quarters, the other 150 will reach retirement in the next 2 years. I believe it is a mix of everybody at LOT, unfortunately under the old good contracts. Also 200 were laid off already last year on so called garbage contracts.


In Polish.
https://www.money.pl/gospodarka/pll-lot ... 9984a.html

Overall not too bad considering it’s over a 2 year period, also with Q400s leaving the fleet this year I wouldn’t be surprised if they won’t hire more next year once everything picks up, unfortunately it be under garbage contracts.


There was no such precondition to state aid. To the contrary, this news came out when the CEO was invited by one of parliamentary committees in connection with state aid granted to LO and asked, among others, why is he laying off people and taking state aid at the same time. The obvious answer was that he needs to tailor LO to existing market demand and ensure LO will be able to repay state aid. That's it.

By the way he also mentioned in this context savings on leasing payments during 2021-2025 in the amount of +1 bln PLN (approx. +220 mln euro). In a fashion typical for him, he called negotiations with lessors around this 'brutal'. I guess part of this may be an earlier return of Q400s and subleasing part of the parked fleet to Vietnam.

He also mentioned that income of LO in 2020 dropped to 3,31 bln PLN (approx. 735 mln euro; not yet audited) from 7,36 bln PLN in 2019 (46% of the income of 2019).

In other news Enter Air (ENT), a Polish charter airline, owning also 49% of CHair, agreed a 278 mln PLN liquidity loan from PFR (approx. 62 mln euro).
 
SRQLOT
Posts: 536
Joined: Sat Nov 04, 2017 6:05 pm

Re: LOT News and Discussion Thread - 2021

Wed Jan 27, 2021 12:35 pm

artflyer wrote:
SRQLOT wrote:
Blerg wrote:
I read somewhere that LO laid off around 300 people. Anyone know more on this? Who exactly was laid off?



It was a requirement by the EU in part for the Covid loan, LOT had to prove that it would be able to pay off the loan after the crisis. I don’t remember what amount was a loans and what was a grant though.

150 will be laid off within these 2 quarters, the other 150 will reach retirement in the next 2 years. I believe it is a mix of everybody at LOT, unfortunately under the old good contracts. Also 200 were laid off already last year on so called garbage contracts.


In Polish.
https://www.money.pl/gospodarka/pll-lot ... 9984a.html

Overall not too bad considering it’s over a 2 year period, also with Q400s leaving the fleet this year I wouldn’t be surprised if they won’t hire more next year once everything picks up, unfortunately it be under garbage contracts.


There was no such precondition to state aid. To the contrary, this news came out when the CEO was invited by one of parliamentary committees in connection with state aid granted to LO and asked, among others, why is he laying off people and taking state aid at the same time. The obvious answer was that he needs to tailor LO to existing market demand and ensure LO will be able to repay state aid. That's it.

By the way he also mentioned in this context savings on leasing payments during 2021-2025 in the amount of +1 bln PLN (approx. +220 mln euro). In a fashion typical for him, he called negotiations with lessors around this 'brutal'. I guess part of this may be an earlier return of Q400s and subleasing part of the parked fleet to Vietnam.

He also mentioned that income of LO in 2020 dropped to 3,31 bln PLN (approx. 735 mln euro; not yet audited) from 7,36 bln PLN in 2019 (46% of the income of 2019).

In other news Enter Air (ENT), a Polish charter airline, owning also 49% of CHair, agreed a 278 mln PLN liquidity loan from PFR (approx. 62 mln euro).


Ok, thank you. That’s what I thought I read at the beginning when the aid was approved and then it started to get mixed up in messaging from the company I guess
LO LH CL BA AZ WN UA DL AA B6 NK G4 F9
717 733/7/8/9/M8 744 752/3 763 772 788 319/20/21 332/3 M90 RJ85 CR9 Q400 E7/95 (PA28,152)
 
upintheair2019
Posts: 60
Joined: Fri Oct 25, 2019 8:53 am

Re: LOT News and Discussion Thread - 2021

Thu Feb 25, 2021 3:31 pm

In April and May, LOT will operate 787-9 charter flights to Liberia, Costa Rica for ITAKA tour operator.
https://aeronewsglobal.com/lot-polish-a ... l-and-may/

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