March 18 (SeeNews) - State-owned flag carrier Air Serbia said its net profit doubled to 40.5 million euro ($44.1 million) last year on the back of a launch of more than 20 new destinations, and a rise in passenger and flight numbers.
"Last year, we expanded our network by 23 new destinations and at one moment we flew an overall 87 routes to 34 countries across Europe, North America, Asia and Africa," the company's director general, Jiri Marek, said in a statement over the weekend.
Air Serbia transported 4.19 million passengers last year, up 53% compared to 2022, with the share of transfer passengers rising to 40% in the period under review, from 35%. The number of flights rose 44% compared to 2022.
The air carrier reported 628 million euro in revenue for 2023, which is the first time its revenue tops half a billion euro since 2013 when it started operating under the Air Serbia brand.
The company also said it plans to increase its fleet capacity very soon, above all with new regional aircraft ATR 72-600, but also with new long-distance planes such as Airbus A330-200, which should support a further expansion.
In January, Serbia's finance minister Sinisa Mali said that Air Serbia will add two Airbus A330 aircraft to its fleet by May.
In 2013, Abu Dhabi-based Etihad Airways signed a deal to acquire a 49% stake in loss-making JAT Airways, a company wholly owned by the Serbian government. Under the strategic partnership agreement, Etihad was granted a five-year contract to run the airline, which it rebranded to Air Serbia in October that year. In November 2023, Serbia regained 100% ownership of its flag carrier.
($ = 0.918 euro)