Air Serbia is claiming a full-year profit of €40.5 million ($44.1 million), adding that it almost doubled the previous figure.

The airline says it achieved the result on revenues of nearly €628 million – the highest level in its decade of operations.

Air Serbia attributes the performance to introduction of 23 additional destinations and a “significant” rise in passenger numbers.

It says the profits this year, and last year, were achieved without any state subsidies.

Air Serbia transported almost 4.2 million passengers, and increased its share of transfer traffic.

Air Serbia-c-Air Serbia

Source: Air Serbia

Air Serbia has signalled plans to expand its fleet

“Intensive growth in 2022 and 2023 was inevitable for us to meet the increased demand and achieve the critical mass and market presence necessary for further business development,” says chief executive Jiri Marek.

“As we reach [that] critical mass…we will work on further operations stabilisation, network expansion, and improving the services provided to passengers.”

Air Serbia says it has “ambitious” growth plans, mainly with the addition of more regional ATR 72-600s, and adds that a change of ground-handler at its Belgrade base – from the airport operating company to Menzies Aviation – will support this objective.