Air Serbia announced today that, based on preliminary results for 2023, it has achieved a record profit of €40.5 million. This milestone is attributed to the introduction of over 20 new destinations, a significant increase in total flights and transported passengers, and efficient business operations. Remarkably, the Serbian national airline has doubled its profit compared to the previous year, achieving this without any state subsidies, as emphasized in the statement.
Throughout 2023, Air Serbia continued to maintain positive operational and net results, recording revenue of €627.9 million according to preliminary data. This marks the first time since 2013 that the company has exceeded half a billion euros in revenue, demonstrating its steady growth trajectory.
Jiří Marek, CEO of Air Serbia, highlighted the airline’s substantial growth compared to the pre-pandemic year of 2019. Marek emphasized the expansion of the network to 23 new destinations and operation on a total of 87 routes spanning 34 countries across Europe, North America, Asia, and Africa. The airline successfully transported 4.19 million passengers, ranking as the third best result in its nearly 97-year history.
The share of transfer passengers increased to 40%, up from 35% in 2022, underscoring the airline’s strategic positioning in connecting passengers across its network.
Marek expressed satisfaction with the positive financial outcome, attributing it to the airline’s intensive growth efforts in response to increased demand. He acknowledged the critical mass and market presence achieved in 2022 and 2023, aligning with the company’s strategic objectives.
Furthermore, Marek extended gratitude to the Government of Serbia for its strong support, as well as to the dedicated employees, loyal partners, and millions of passengers who contributed to Air Serbia’s success.
In line with its growth plans, Air Serbia has transferred ground handling services at Belgrade Airport to Menzies Aviation from March 5, 2024. This strategic move aims to support the airline’s ambitious growth plans, particularly in enhancing traffic regularity and passenger baggage handling.
Looking ahead, Air Serbia plans to expand its fleet, focusing on regional ATR 72-600 aircraft and new Airbus A330-200 aircraft for long-haul routes. These efforts aim to strengthen the airline’s position in both regional and international markets.
The transformation of Air Serbia from its predecessor, Jat Airways, has been characterized by significant achievements, including fleet renewal, network expansion, and operational efficiency enhancements. With a strong foundation established, the airline is poised for continued growth and success in the years to come.
