Air Serbia, the national airline of the Republic of Serbia, announced its financial results for 2014 – the airline’s first full year of operation. Reporting a net profit of EUR 2.7 million for 2014, the airline’s revenues rose by 87 per cent to EUR 262 million, marking the strongest results since the launch of the national carrier.
The results reflect strong growth in passenger traffic and cargo volumes, with a total of 2.3 million passengers travelling with the airline in 2014, an increase of 68 per cent compared to 2013.
Dane Kondić, Chief Executive Officer of Air Serbia, said: “These results are a great achievement, validating the effectiveness of our strategy. We are proud to have been able to deliver on our mandate which was to achieve strong growth, to become the region’s leading carrier and, most importantly, to do so as a commercially viable and profitable enterprise, while becoming a key driver of economic growth in Serbia.
“The profit we have delivered in 2014 is, above all, a great sign for the future as it lays a solid foundation going forward and is proof of what can be achieved when the right strategies and governance structures are put in place. We owe a debt of thanks to our two shareholders – the Government of the Republic of Serbia and Etihad Airways for their ongoing support.
Since Air Serbia’s launch on 26 October 2013, the airline has undertaken a number of initiatives to rebuild the national carrier and transform it into a profitable, stable, reliable and strong airline to serve Serbia and the broader Balkan region.
The airline was rebranded and ten new generation Airbus aircraft were introduced, with eight A319 and two A320 aircraft added to the fleet, delivering greater reliability and significantly lowering the costs of operation.
During 2014, Air Serbia’s network of direct routes grew to 40 destinations across 30 countries, the last of which was the launch of flights to Zagreb in December, re-establishing a link between Zagreb and Belgrade for the first time in 23 years. The airline also expanded the number of destinations served with codeshare partners to 35. Coupled with the introduction of a modern and reliable fleet, the network expansion strategy has been a key driver of the significant growth in passenger numbers and cargo volumes.
Mr Kondić said: “As Air Serbia consolidates its position as the region’s leading carrier, it is proud to play an increasingly important part in supporting the further growth of the Serbian economy, particularly in developing tourism and trade, while creating employment opportunities for Serbian nationals across the broader economy."
Air Serbia was launched as the national airline of the Republic of Serbia on 26th October 2013. It serves more than 40 destinations in Europe, Mediterranean and Middle East directly from its hub at Belgrade’s Nikola Tesla International Airport with passenger and cargo services. The airline also offers long-haul and international destinations in Asia, Australia and Americas through its code-share partners and its equity partner, Etihad Airways that holds a 49% share. The airline currently operates a fleet of 10 narrow-bodied and 5 turboprop aircraft.
For more information go to www.airserbia.com
