50 SKY SHADES - World aviation news

Air Serbia targets more US traffic as profit soars

Download: Printable PDF Date: 06 May 2016 04:54 category:
Air Serbia targets more US traffic as profit soars - Airlines publisher
Krista Kuznecova
Country: Serbia Aircraft: Airplanes
Source: The National

Air Serbia will build on Belgrade’s position as a strategic gateway to the United States as it expands its route network across the Balkans and the At­lan­tic this year.

The airline, part-owned by Etihad Airways, on Wednesday re­ported a 44 per cent jump in its net profit for 2015 to €3.9 million (Dh16.4m) compared with €2.7m a year earlier.

“Last year, we consolidated and built depth into our European network and are now in a position to expand it regionally and across the Atlantic," said Dane Kondic, Air Serbia’s chief executive.

“Our strategy in 2016 is to strengthen the network further by taking advantage of Belgrade’s position as the gateway to the Balkans and capturing regional traffic flows to the United States."

Air Serbia plans to start flying to New York this summer, and aims to add another four new markets to its network.

The airline, in which Etihad holds a 49 per cent stake, said on Wednesday that revenue was up 16 per cent last year to €305m thanks to an increase in passenger numbers.

Last year, Air Serbia carried 2.55 million passengers, an 11 per cent year-on-year increase over 2014. The seat load factor, a measure of filled seats compared to available seats, rose to 71 per cent, up from 67 per cent in 2014.

Air Serbia’s code-share partnerships contributed €21.5m in 2015 and the airline cur­rently has agreements with Aegean Airlines, Air Baltic, Air China, Air Europa and LOT Polish Airlines.

From its Nikola Tesla International Airport hub in Belgrade, Air Serbia flies to 44 passenger and cargo destinations in Eur­ope, the Mediterranean, the Middle East and North America. It also flies to some long-haul destinations in Asia, Australia and the Americas through its code-share agreements. Air Serbia operates 14 narrow-bodied and six turboprop aircraft.

Etihad helped to relaunch Serbia’s loss-making airline Jat Airways as Air Serbia in October 2013 and it “has made tremendous strides on its journey to sustainable profitability", said the Etihad chief executive James Hogan.

He is also the vice chairman of Air Serbia’s supervisory board.

“Europe is a very competitive market, and the airline’s ongoing investment in products and services have created a compelling offering for European consumers," said Mr Hogan.

Loading comments for Air Serbia targets more US traffic as profit soars...


Latin America Debut of M600 Begins at FIDAE

Piper Aircraft Inc. and its recently appointed Chilean dealer, Aeroneed, are collaborating to display the M600, the company's flagship product, at the upcoming FIDAE, to be held April 3-8. This wi...

Ryanair To Partner With Niki Lauda To Develop LaudaMotion Airline In Austria

Ryanair Holdings Plc today (20 Mar) announced that it has entered into a binding agreement with Mr Niki Lauda to support his plan to develop and grow LaudaMotion GmbH, an Austrian Airline based in Vie...

Interflight Middle East welcomes Falcon 2000

Interflight expands into the Middle East with a Falcon 2000 under sales and marketing agreement. Newly refurbished in 2017, both interior and exterior, the Falcon 2000 will be available from Europe an...

Business Aviation stimulates economic growth across Europe

“Business Aviation connects distant and remote regions, spurring investment and the growth of business across Europe” The European Business Aviation Association (EBAA) has today publis...