Air Serbia’s codeshare partnerships contributed US$24.5 million out of its total revenue of US$347.9 million (EUR 305 million) in 2015, a result of the airline developing its existing agreements and signing new codeshare partnerships with Aegean Airlines, Air Baltic, Air China, Air Europa and LOT Polish Airlines.
Air Serbia, launched as the national airline of the Republic of Serbia in 2013, recorded a net profit of US$4.45 million (EUR 3.9 million) in its second full year of operation, exceeding 2014’s profit by 44%.
The results can be attributed to an increase in Available Seat Kilometres (6% increase to 3.65 billion); number of flights operated (8% increase to 32,384); number of passengers carried (11% increase to 2.55 million); and an increase in load factor, a measure of filled seats compared to available seats (increase to 71 percentage points from 67 percentage points) in 2015 as compared to the previous year.
Air Serbia’s codeshare partnerships contributed US$24.5 million out of its total revenue of US$347.9 million (EUR 305 million) in 2015, a result of the airline developing its existing agreements and signing new codeshare partnerships with Aegean Airlines, Air Baltic, Air China, Air Europa and LOT Polish Airlines.
In addition to focus on lowering costs, raising productivity and increasing offerings, Dane Kondic, chief executive officer, Air Serbia, revealed that more attention was paid to improving sales and commercial performance, and revenue management.
He said, “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. 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 will expand its network to five new markets, including New York, this summer, added Snisa Mali, president, supervisory board, Air Serbia.
The airline currently operates a fleet of 14 narrow-bodied and 6 turboprop aircraft.