Polish Aviation Group

Last updated
Polish Aviation Group (PGL)
Polska Grupa Lotnicza
Company type State-owned
IndustryAviation
FoundedJanuary 1, 2018;6 years ago (2018-01-01) in Warsaw, Poland
Headquarters Warsaw,
Poland
Area served
Europe, North America, Asia
Key people
Rafal Milczarski (CEO) Bartosz Piechota (Vice-President)
Services
  • Airline Services
  • Passenger Air Transportation Services
  • est. at €47,000,000 (2018) [1]
Number of employees
  • Steady2.svg 11-50 (2019)
Subsidiaries LOT Polish Airlines

LOT Aircraft Maintenance Services
LS Airport Services
LS Technics

Contents

Nordica (49%)
Website http://pgl.pl/

Polish Aviation Group is Poland's largest aviation company. It was founded in 2018 with an aim to merge Polish companies including LOT Polish Airlines, LOT Aircraft Maintenance Services, LS Airport Services and LS Technics. The group's headquarters are in Warsaw.

History

PGL (Polska Grupa Lotnicza) was formed in January 2018 and consists of LOT Polish Airlines, LOT Aircraft Maintenance Services and LS Airport Services and LS Technics which were merged into the group in early October 2018. [2] Its CEO is Rafał Milczarski. [3] It was started with a capital of PLN 1.2 billion (EUR 290 million) [4] as a joint stock company in January 2018. The new state-owned Polish Aviation Group (PGL), endowed with capital of PLN 2.5 billion, brings together the country’s largest aviation service providers. [3]

LOT Polish Airlines 787-8 LOT - Polish Airlines Boeing 787-8 Dreamliner SP-LRA Taking Off (14203972340).jpg
LOT Polish Airlines 787-8
Nordica CRJ-900 ES-ACC, Canadair CRJ-900, (15262) Nordica - LOT Polish Airlines, Amsterdam (AMS), 21-01-2018 (25945335218).jpg
Nordica CRJ-900

On 24 January 2020 PGL announced that it would acquire Condor Flugdienst, and that the transaction was expected to be completed in April 2020 after consideration from anti-trust regulators. [5] On 2 April 2020 it was announced that the sale had fallen through. [6] [7]

On 29 May 2020 Lot Polish Airlines S.A. was established, with PGL owning 100% of the shares. [8] The reasons behind forming a company with a similar name remain unknown, with only speculations suggesting it might have been created to announce the controlled bankruptcy of PLL LOT, which faces financial challenges due to the COVID-19 pandemic. [9]

In January 2022, [10] the company rebranded as LOTAIR SA, [11] and on March 16, 2023, it suspended operations for a period of 24 months. [10]

Corporate Affairs

Divisions and Subsidiaries

Their main subsidiaries are:

Financial Results

Year EndedPassengers FlownProfit/Loss
31 December 20189,000,000 [1] est. at €47,000,000 [1]
31 December 201910,000,000 [12] unknown

Operations

In 2019, LOT Polish Airlines served 10 million passengers which was their highest amount yet. [13]

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References

  1. 1 2 3 "Polish airline flies nearly 9 million passengers in 2018". Polskie Radio dla Zagranicy. Retrieved 2020-01-26.
  2. ↑ "History". LOT.com. Retrieved 2020-01-26.
  3. 1 2 "New Polish aviation group gets off ground". Polskie Radio dla Zagranicy. Retrieved 2020-01-26.
  4. ↑ "Polish aviation group established". Polskie Radio dla Zagranicy. Retrieved 2020-01-26.
  5. ↑ "Breaking: LOT Polish Airlines Owner Buys German Carrier Condor". Simple Flying. 2020-01-24. Retrieved 2020-01-26.
  6. ↑ "Germany considers Condor nationalization after Polish sale fails". Aerotime. 2 April 2020. Retrieved 2 April 2020.
  7. ↑ "Poland's LOT Withdraws From Deal to Buy German Airline Condor". Skift. 13 April 2020. Retrieved 2 June 2020.
  8. ↑ "Pasazer.com: Tajemniczy klon LOT-u. Powstała spółka LOT Polish Airlines SA". Pasazer.com (in Polish). 2020-06-02. Retrieved 2024-02-14.
  9. ↑ "Pasazer.com: Powołanie LOT 2.0 a kontrolowana upadłość PLL LOT". Pasazer.com (in Polish). 2020-06-05. Retrieved 2024-02-14.
  10. 1 2 "LOTAir zawiesił działalność na dwa lata". www.rynek-lotniczy.pl (in Polish). Retrieved 2024-02-14.
  11. ↑ "Pasazer.com: Saga LOT Polish Airlines SA: Tajemnicza spółka zmieniła nazwę". Pasazer.com (in Polish). 2022-01-19. Retrieved 2024-02-14.
  12. ↑ "Press release: PGL SELECTED AS STRATEGIC INVESTOR FOR CONDOR". LOT.com. Retrieved 2020-04-15.
  13. ↑ "Poland: number of passengers of LOT and Condor 2019". Statista. Retrieved 2020-01-26.
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