Air Serbia’s profit exceeds EUR 50 million for first time

Air Serbia’s preliminary financial results for 2024 show that, for the first time in the history of the Serbian national airline, net profit exceeded EUR 50 million, the company announced.

After taxes, the company’s profit will amount to EUR 41.3 million, a better financial result compared to the record year 2023. The company’s total annual revenue in 2024 exceeded EUR 700.3 million for the first time, the press release says.

– During 2024, our fleet was expanded with three new ATR 72-600 aircraft, one Airbus A330-200 for long-haul operations, and one Embraer E-195 aircraft. Fleet renewal and expansion, as well as the introduction of a new aircraft type, entail significant costs and major investments. Despite that, according to preliminary information, we achieved better operating and net results compared to 2023, which had been our proudest year until now. Thanks to good financial performance over the past year, we restructured business arrangements with one of our leasing partners and became the owners of three aircraft. This has allowed us to reduce future financial obligations and further boost stability. We will continue to operate responsibly and strategically, in the best interest of the company, the Republic of Serbia, and all our passengers, striving to contribute to the further growth of Air Serbia – said Jiri Marek, CEO of Air Serbia.

The national airline of the Republic of Serbia carried more than 4.4 million passengers in 2024 on scheduled and charter operations. From the airports in Belgrade, Nis, and Kraljevo, there were over 47,000 flights on 87 routes to 33 countries across four continents.

The company’s fleet currently consists of 27 aircraft: three wide-body, fourteen narrow-body, and ten turboprop planes.

The third Airbus A330-200, registered as YU-ARD and branded in the colors and markings of the specialized EXPO 2027 exhibition, arrived in Belgrade in early October 2024. The fourth aircraft of the same type and design is expected to join Air Serbia’s fleet in the coming days.

Let us remind that, in early 2025, Air Serbia already further expanded its destination network with another important location. In addition to New York, Chicago, and Guangzhou, Serbia’s national airline has operated long-haul flights to Shanghai since January 11. Flights to this city are conducted twice a week.

The company previously announced further expansion of its European destination network. From April 18, direct Air Serbia flights between Belgrade and Florence will be resumed, while scheduled flights between Belgrade and the city of Alghero in Sardinia will be introduced on June 10.

Air Serbia also plans to launch a direct service between Belgrade and the popular Greek island of Mykonos on June 6.

Air Serbia ad Beograd

Air Serbia

Jiri Marek

profit

new lines

procurement of aircraft