LOT Polish Airlines intends to lease an additional four Boeing 737 MAX 8 from two lessors as the carrier accelerates its expansion plans across Europe and beyond. The aircraft, being sourced from Phoenix Aviation and AIP Capital on long-term leases, will bolster the Warsaw-based carrier’s short to medium-haul fleet allowing it to add new destinations and increase frequencies on its key routes.
According to a statement by LOT Polish Airlines, the agreement demonstrates both Phoenix’s and AIP Capital’s “focus on working with airline customers to provide flexible solutions, and LOT Polish Airlines’ objective of expanding its aircraft fleet to enhance operational flexibility and accommodate network expansion.”
“We are excited to have concluded this transaction with LOT Polish Airways,” said Mathew Adamo, Managing Partner at AIP Capital. “We look forward to expanding our relationship and continuing to support LOT in managing their fleet.”
“We welcome AIP Capital as our next business partner in the aircraft leasing space,” said Maciej Dziudzik, LOT Polish Airlines, Fleet Bureau Director. “Modern, next-generation narrowbody aircraft are an important element of our growth strategy for the following years. We are committed to providing our existing passengers and the general public the improved connectivity opportunities in Central Europe, either traveling for business or leisure.”
The additional aircraft will join the carrier’s current fleet of 83 aircraft which serves 98 routes to 89 destinations distributed across 50 countries. Long-haul destinations include cities in the United States, Canada, China, Japan , and South Korea. The fleet consists of a mix of wide and narrowbody jets including 13 Boeing 737 MAX 8s, six Boeing 737-800s, 15 Boeing 787s, 46 Embraer ERJ170/190s, a single DHC-8-Q400 plus some wet-leased aircraft.
The Polish carrier has been increasing the number of its flights to its route network in recent years despite fierce competition from the likes of Ryanair (including its Polish-based subsidiary Buzz) and Wizz Air. In August 2024, AeroTime reported that the carrier would also be leasing an additional three Boeing 737 MAX 8s from lessor BOC Capital.
According to its website, Phoenix Aviation Capital is a “full-service aircraft lessor focused on financing modern, in-demand aircraft and is dedicated to meeting the financing needs of its airline customers across the globe. Phoenix Aviation Capital is based in Dublin and is managed by AIP Capital, a global aviation asset management and investment firm.”