Major expansion of the network of destinations and continued business improvement - 2019 delivered a profit of €9.5 million

05 August 2020

  • €9.5 million in net profit in 2019
  • 2.81 million passengers carried
  • Total ASK (Available Seat Kilometres, number of seats multiplied by the number of kilometres flown) increased to 4.45 billion
  • New charter operations record - revenue up by almost one quarter compared to 2018
  • 23 new destinations introduced over a year, with flights operating from two more Serbian airports - Niš and Kraljevo


In 2019, alongside the continuation of business improvement from 2018, as well as the largest expansion of the network ever with a total of 23 new destinations, Air Serbia posted a net profit of €9.5 million in its sixth year of operations.


The national airline of the Republic of Serbia delivered strong results in the field of charter flights, where the previous record income from 2018 grew in 2019 by an additional 24.17%, to €25.7 million. Furthermore, in 2019, the growth of income continued in the field of ancillary services, up 27.54% compared to 2018.


The total number of passengers carried in 2019 was 2.81 million. At the end of October last year, Air Serbia celebrated another historic moment, and welcoming its 15th millionth passenger in its six years of operation.


Network capacity, measured in Available Seat Kilometres (ASK), was at 4.45 billion, increase for 428 million compared to the previous year.


In 2019, Aviolet, the charter brand, had a record-breaking 2,286 flights out of the 33,322 total number of landings of the airline.


“Growth of all operating indicators in 2019, including the financial performance of the business, demonstrates that the continuous measures for improvement and optimization from 2018 yielded positive results. Air Serbia strives to adapt and change for the better, and has effectively reacted to take advantage of significant market opportunities, promoted sustainable business practices, and further strengthened its status of a regional leader,” said Duncan Naysmith, Air Serbia CEO.


He added that the coronavirus pandemic which started to adversely affect the airline in March of this year has been the largest crisis ever to hit aviation. “We are continuously monitoring the situation, and we hope that the travel restrictions will be lifted in due course, as we are unable to operate normally. We remain focused on gradually ramping up operations where possible, whilst protecting the health of customers and employees,” Naysmith said.


During the first months of 2020, Air Serbia continued to grow, with an increase of more than 20% year-over-year in the number of passengers in both January and February. Since the middle of March, because of the coronavirus pandemic, commercial air traffic had been discontinued. A gradual recommencement of flights began on May 21, and since then, it has constantly been adapting to travel restrictions and flight bans. In the meantime, Air Serbia continues to develop innovative projects for the benefit of passengers, primarily through digitalization and personalization of products, in accordance with the long-term strategy and global aviation trends. Just in July of this year, a new Air Serbia mobile app was launched, as well as projects “Flight Pass” and “Keep Boarding”.




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