Polish Aviation Group Explained

Polish Aviation Group (PGL)
Trading Name:	Polska Grupa Lotnicza
Type:	State-owned
Industry:	Aviation
Founded:	in Warsaw, Poland
Hq Location:	Warsaw
Area Served:	Europe, North America, Asia
Key People:	Rafal Milczarski (CEO)Bartosz Piechota (Vice-President)
Subsid:	LOT Polish Airlines LOT Aircraft Maintenance Services LS Airport Services LS Technics
Website:	http://pgl.pl/
Location Country:	Poland

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.^[1] Its CEO is Rafał Milczarski.^[2] It was started with a capital of PLN 1.2 billion (EUR 290 million)^[3] 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.

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.^[4] On 2 April 2020 it was announced that the sale had fallen through.^{[5] [6]}

On 29 May 2020 Lot Polish Airlines S.A. was established, with PGL owning 100% of the shares.^[7] 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.^[8]

In January 2022,^[9] the company rebranded as LOTAIR SA,^[10] and on March 16, 2023, it suspended operations for a period of 24 months.

Corporate Affairs

Divisions and Subsidiaries

Their main subsidiaries are:

• LOT Polish Airlines
  • LOT Aircraft Maintenance Services
  • LS Airport Services
  • LS Technics
  • PGL Leasing

Financial Results

!Year Ended!Passengers Flown!Profit/Loss

31 December 2018	9,000,000^[11]	est. at €47,000,000
31 December 2019	10,000,000^[12]	unknown

Operations

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

Notes and References

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