Air Serbia is Forecast to Post a €7 Million Profit in 2022

November 15th, 2022
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Air Serbia is Forecast to Post a €7 Million Profit in 2022

Air Serbia is expected to report a modest profit for the year, during which it introduced new routes, retired its oldest aircraft, and took on its second wide-body jet. Although the airline itself has not speculated on its final balance sheet, one of its main shareholders has told the Czech media that the company will end up with around seven million euros in profits. CEO Jiri Marek was less certain, saying while they don’t know what inflation might do to things like travel budgets, he’s optimistic about their future now. The season was very successful so far but there are more risky times ahead and no one can predict what will happen next. For now, Air Serbia remains confident for the future.

Rotterdam Schiphol Airport is a managing director at Rotterdam 2020, who responded to questions on the strategy of airlines in terms of the pandemic. He said that some airlines did not know how to react because they could only focus on cost cutting and making money, while airBaltic was able to shift operations toward pre-Covid business model and increase revenue without considerable changes. He says this is what the Dutch do best- focusing on efficiency with some things that give pleasing service.

The CEO of Air Serbia, Dušan Marek, has offered some insights into their future plans, noting that “In no case do we want to rely on the state.” Instead, they aim to build long-term sustainability and profitability. They will also be considering expanding their services to China later in 2019. They see Belgrade as a regional center for traveling and note how it is the legacy of Yugoslavia. The economy is growing and they want to react to what is going on around them. When the Slovenian Adria imploded in 2019, Air Serbia increased services from Ljubljana immensely because that was not served by any other airlines at this time. In addition, passengers from neighboring countries transfer onto flights linking Serbia with New York City often as well. Other than Athens and Istanbul there are no airlines operating wide-body planes at all in the region either and so Air Serbia intends on adding international routes to China soon too.