LOT Polish Airlines has posted a loss of PLN145.5 million ($44.7 million) for 2011, narrowed from a PLN163.1 million loss in 2010. LOT said the 2011 loss was mainly due to high fuel prices, lower fourth-quarter passenger traffic and a rapid increase in the dollar exchange rate at the end of the year. LOT forecasted a PLN52.5 million profit for 2012. "Excluding the effects of fuel price rises and exchange rate fluctuations LOT improved its financial result by PLN752 million over ...

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