Air Serbia Posts Net Profit of EUR 9.5 Million in 2019

In 2019, Air Serbia posted a net profit of EUR 9.5 million, the airline carrier announced.

– The national airline of the Republic of Serbia delivered strong results in the field of charter flights, where the previous record income from 2018 grew in 2019 by an additional 24.17%, to EUR 25.7 million. Furthermore, in 2019, the growth of income continued in the field of ancillary services, up 27.54% compared to 2018 – the press release says.

The total number of passengers carried in 2019 was 2.81 million.

Network capacity, measured in Available Seat Kilometres (ASK), was at 4.45 billion, increase for 428 million compared to the previous year.

– Growth of all operating indicators in 2019, including the financial performance of the business, demonstrates that the continuous measures for improvement and optimization from 2018 yielded positive results. Air Serbia strives to adapt and change for the better, and has effectively reacted to take advantage of significant market opportunities, promoted sustainable business practices, and further strengthened its status of a regional leader – said Duncan Naysmith, Air Serbia CEO.

He added that the coronavirus pandemic which started to adversely affect the airline in March of this year has been the largest crisis ever to hit aviation.

– We are continuously monitoring the situation, and we hope that the travel restrictions will be lifted in due course, as we are unable to operate normally. We remain focused on gradually ramping up operations where possible, whilst protecting the health of customers and employees – Naysmith said.

During the first months of 2020, Air Serbia continued to grow, with an increase of more than 20% year-over-year in the number of passengers in both January and February. Since the middle of March, because of the coronavirus pandemic, commercial air traffic had been discontinued. A gradual recommencement of flights began on May 21, and since then, it has constantly been adapting to travel restrictions and flight bans.

Air Serbia ad Beograd

Air Serbia

Duncan Naysmith

Air Serbia profit

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