May 5 (SeeNews) - Flag carrier Air Montenegro recorded a net loss of 458,515 euro ($503,850) in the first quarter of 2023, regional media reported, without providing a comparison for the same period of 2022.
The company’s revenue totalled 5.3 million euro in the first quarter of 2023, up 170% on the year, while expenses grew by 39% to 5.9 million euro, news portal EX-YU Aviation reported on Thursday.
The carrier operated 772 flights and handled 55,000 passengers in the first quarter, up 70% on the year.
“On services between Podgorica and Belgrade, we registered a 23% increase in flights and a 75% increase in passenger numbers, with the cabin load factor growing from 44% last year to 60% in 2023,” EX-YU Aviation quoted Air Montenegro as saying.
The number of flights between Tivat and Serbia's Belgrade grew by 8%, while passenger figures increased 48% with the load factor increasing from 40% to 60%. On the Tivat - Istanbul route, the load factor increased from 54% to 63%.
($ = 0.9100 euro)