Friday, November 13, 2015

Air Serbia records strong quarterly results

Air Serbia handles over two million passengers in nine months

Air Serbia has recorded one of its strongest summer seasons in decades by handling 913.135 passengers during the third quarter (July - September), an increase of 11% compared to the same period last year. August proved to be a record-breaking month, with a total of 319.263 passengers travelling with the airline, a 7% increase compared to the same period in 2014. During the three months, the airline's dedicated charter brand, Aviolet, welcomed almost 100.000 passengers on more than 400 flights to holiday destinations in Turkey, Greece, Egypt and Italy. Air Serbia’s passenger carrying capacity, measured in Available Seat Kilometres (ASK), stood at one billion by the end of Q3 2015, an increase of 3% over the same period last year. Air Serbia Cargo also achieved 30% growth over 2014, carrying 865 tonnes of freight during the third quarter.

Throughout the first nine months of the year, the airline welcomed over two million passengers on board its aircraft, an increase of 15%. "In the first nine months of 2015, Air Serbia carried the same number of passengers as it did during the whole of 2014 combined", the carrier's CEO, Dane Kondić, said. He added, "Air Serbia's results in 2014 were incredible and we are on track to post even better numbers". James Hogan, the Vice Chairman of Air Serbia and President and CEO of Etihad Airways, said, “The third quarter results clearly indicate that the turnaround strategy is working and Air Serbia is on the right track to duplicate the success seen in 2014 and deliver robust operational and financial results in its second full year of operation”.


Similar to its part-owner Etihad, Air Serbia does not post its profit margins or average cabin load factor in its quarterly results. However, the total operating revenue from January to September rose 29%, from 142.2 million euros last year to 182.7 million euros in Q3 2015. During this period, on-time performance also improved, from 72% to 80%. “We continue to grow not just in revenues and passenger numbers, but more importantly also in reputation, performance and maturity, emerging as a regional industry leader in a relatively short period of time", Mr Kondić concluded. Meanwhile, Etihad Airways will operate 730 flights in and out of Serbia by the end of the year, carrying some 52.000 passengers. The majority of them, over 50%, started their journey in the Australasia region, followed by the rest of Asia and the United Arab Emirates.

55 comments:

  1. Great results. Congratulations.

    ReplyDelete
  2. Great results. Hope this upward trajectory continues into 2016. It will be necessary if they hope to be successful with longhaul flights.

    That last circle chart is bad. They should have used different colors instead of different shades.

    ReplyDelete
    Replies
    1. 53% - Australasia, 21% - rest of Asia, 5% - Africa, 9% - UAE, 7% - Middle East and 5% Indian sub continent.

      Delete
  3. Very impressive results. Its always good to see the actual figures on black and white and disprove all the torrents of negative "well-wishes" from the usual suspects on this blog.

    Good service, good growth and excitng new route dimension opening up in 2016. Step by step, JU in continuing to transform into the dominant ex-YU regional player, with expected new markets and growth in volumes.

    Well done Serbia! Thanks Etihad!

    ReplyDelete
  4. Bez sumnje veliki rezultati, uprkos svemu. Senku na izvestaj baca cinjenica da su podaci opet objavljeni selektivno. Treba objaviti sve - ni u jednom biznisu nije sve u superlativu.

    ReplyDelete
  5. Yeah, strong results my a$$. The company is bleeding money at a rate unprecedented in it's history. They have somehow managed to lose more money the more passengers they carry.

    ReplyDelete
    Replies
    1. -1

      Ha ha. If your comment didn't sound so pathetic, I would have said that it's funny. Bleeding money?! Where? Show us some figures, you troll. Or are you gonna bore us with some gossip story about subsidies that you heard in some kitchen, again.

      Delete
    2. Управо тако, црпи паре по вртоглавој стопи. Није тешко узети ове податке и упоредити их са рецимо Јат ервејзом у последњој пуној години пословања. Јат је тада превезао укупно 1,3 милиона путника и остварио укупан приход од 136 милиона евра, што значи да је просечан приход по превезеном путнику нешто већи од 100 евра.

      Ер Србија је до сада остварила приход како наводе од 183 милиона евра и превезла нешто преко 2 милиона путника што значи да је просечан приход по превезеном путнику око 90 евра уз знатно већу трошковну страну.

      Не знам можда остварују и приходе које не исказују а односе се на транспорт свих неиспуњених обећања правог си и оу-а компаније који седи у Немањиној 11

      Delete
    3. Samo jadno lupetas. Oni jednostavno nemaju potrebe da se prikazuju profitabilnim da tada. Jos imaju godinu dana finasijske podrske od Srbije za sta mozes da crknes sa Adriiom i CTNom i Monte-om koji do tog doba mozda i nece postojati. Posle toga i ako prave manje gubitke mogu da opstanu bez da prodaju avione motore bubreg.

      Delete
    4. Kakvo lupetanje, neverovatno... Pa nema kompanija prihode samo od putnika isto tako, ne moze se gledati taj prihod po coveku ukoliko je npr iskoriscenost kapaciteta manja.
      Operativni troskovi su smanjeni drasticno i to je svima jasno, neverovatno je koliko neko kritikuje, a ne mucne glavom pre nego sto lupi glupost.

      Delete
    5. Јашта су оперативни трошкови смањени и то толико да их крију као змија ноге. Но, није тешко наслутити колики су, пођимо само од најзначајнијих ставки: Јат ервејз је летео са својим авионима, Ер Србија плаћа најам комплетне Ербас флоте и 3 атр-а. Број запослених је тренутно благо већи у корист Ер Србије, али уз знатно већи фонд зарада. Можеш ли навести у којим су категоријама смањени трошкови довољно да могу да потиру ове категорије које вуку и највише?

      Delete
    6. U svim mogucim, pocevsi bas od zarada na koje se pozivas. Plate u Jatu i u AS nisu ni slicne, da ne pricamo o potrosnji goriva, jeftinijem odrzavanju, povoljnijim ugovorima sa dobavljacima... Neverovatno je koliko si smesan

      Delete
    7. Плате су знатно више у Ер Србији јер за разлику од Јата већина ради преко агенције те не морају више да се придржавају система плата јавног сектора.

      Delete
    8. @1:30 znači, najbolje bi bilo da avione nismo ni uzimali, posto mora da se plati lizing.. a imali smo naše, trofejne za "dž", hehehe

      Delete
    9. Kad spomenu "trofejne", sećam se da je bilo onih koju su navijali da se Avigenex 737-200 pridruži Er Srbiji, pa i onih koju si savetovali da se za male pare kupi neki polovni DC-10 ili MD-11 za prve dugolinijske letove... zašto da uzmu novije avione na lizing kad bi mogli da zakrpe onaj 727 iza hangara... baš svašta!

      Delete
    10. What I wrote about the loses is a cold hard FACT that anyone can read in Air Serbia financial reports posted on Serbian Business Registry Agency.

      During 2013. Air Serbia has recorded 5.6 billion RSD operating loses and during 2014. that has ballooned to 8.8 billion RSD. For comparison, during the last and the worst year of JAT, 2012, operating losses were 3.5 billion so RSD. So two years after Etihad takeover Air Serbia has increased operating loses almost threefold.

      They are covering the loses and posting fictional profits by creative accounting and receiving huge amounts of money from through the state aid. In 2014. they have received 8.4 billion RSD (71 million EUR).

      If you are lazy to read the financial reports, here are the screenshots of the relevant pages from the report

      http://imgur.com/a/tDMhE

      Delete
    11. Pisete gluposti o gubitku 2014. to da je tacno mmf bi se pokupio koliko odmah iz Srbije i nikad ali nikad ni bi dozvolio,al nema veze terajte svoje gluposti.

      Delete
    12. Disputed many times before. Instead of my own response, here's slightly inaccurate but funny as hell response from someone else:

      http://beobuild.rs/forum/viewtopic.php?f=17&t=989&start=2875#p357956

      Delete
    13. Upravo tako pisete totalno nebulozne gluposti. Cuj ti njemu vece plate u AS, decko nemoj da se sprdas.

      Delete
    14. @AnonymousNovember 13, 2015 at 4:44 PM

      your second picture is proof of explanation from beobuild link. In 2013 when jat transformed into air serbia, subsidy was only 3.2 mil eur, far below actual needs. why? government was cash poor! contract also called out those subsidies, nothing strange about them. capex for new biz lounge, wifi equipment etc is happening now, so that asl can be free of those major expenses once subsidies run out as planned.

      Delete
    15. @Anonymous 5:15 PM

      The poster of that message on beobuild lacks even the basic understanding of accounting. Current subsidies of Air Serbia have NOTHING to do with JATs accumulated liabilities (around 500 million USD). All those debts were taken over by Republic of Serbia when Air Serbia was formed. All new loses and subsidies since then are purely due to the Air Serbia's operation.

      Please be sure you know what you talk about before talking

      Delete
    16. Yep, jat debts were taken over by the govmt and subsidies go on top, just like beobuild poster explained if you bothered to read it. Since you took upon yourself to decide on accounting experise of others, why don't you start by showing your CPA here? Oh you don't have it just like Saša & Saša team?

      Delete
    17. No, beobuild poster did not explain anything. Serbia had an obligation to a total subsidy of 82 million USD untill 2016. Just in one year they have thrown away 71 million EUR.

      However, that is not even the most important issue. The most staggering fact is that the operating losses are spiraling out of control. If there were any kind of improvement, that would simply be mathematically impossible. However, Air Serbia manages to make more losses the more passengers they have.

      Anyway, I am wasting time here. Some of you are in complete denial and no amount of facts and numbers is going to make you realize how wrong you are.

      We will have to wait until inevitable reality comes knocking in a year or two.

      Delete
    18. I just have to say that I am super suprised how many people on here is jealous when someone is doing well. Why are you guys not able to recoknize that AS is doing better then anyone was expecting? I know it is hard to believe it but that is the fact and numbers are showing how strong they are moving forward to 2016. Good job AS and hope everyone alse in the region will follow the same.

      Delete
    19. The number of reality-impaired (not to use any heavier qualification) people here is astounding. Anyway, I don't know why I am wondering considering which people have been managing to run literally everything in Serbia into the ground for almost four years and still have more than 50% of votes.

      Delete
  6. If their results where really good they would say how much was their PROFITS, their RASM/RASK, their profit margins and their load factor.
    The things that all airline companies announce every quarter in order to offer real information to their investors.

    ReplyDelete
    Replies
    1. All the financial figures get published in the annual general report. So no big secret, really. They don't need to publish that quarterly. Plus, it says that companies in the Etihad group don't publish these quarterly. So, I really don't see where you going with your comment.

      The load factor has been discussed at the press conference on Monday.

      P.S. Please font make uneducated comments that "all airlines release these figures each quarter". You completely discrediting yourself with your lack of knowledge.

      Delete
    2. You are clearly ignorant of what airlines in the rest of the world report..Both Ju's and EY's reporting standards are an industry joke.
      Hiding expenses and presenting fake incomes to make their situation look better.
      If they had nothing to hide they wouldn't hide it.
      Instead they would be bragging about their profitability.

      Delete
    3. As I said above, no one is hiding anything. Please check the annual general report. So, you can spin your hate and envy vinyl on your broken gramophone till kingdom come, but the fact is that Air Serbia is on the winning and your comments are on the losing side of the spectrum.

      But if pushing your agenda is what gets you though the day, then go one with your half-baked statements that make no sense at all.

      Delete
    4. Air Serbia has recorded 79,2% cabin load factor in Q3 2015, it is not a secret.

      Delete
  7. OT: malo radova s novog terminala u Zagrebu

    https://www.youtube.com/watch?v=wgXjy13whtk

    ReplyDelete
  8. Svaka cast za najvise prevezenih putnika u Ex Yu i u jedno najvecoj kompaniji, najvecim uspehom i jedinoj koja ce imati sirokotrupca u svojoj floti i leteti za JFK.
    I sve cestike svim zaposlenim i EY sto su uspeli ne moguce i vratili kompaniju iz najgorih u jedne od najboljih u Evropi.
    INN-NS

    ReplyDelete
    Replies
    1. И тек онда када изађеш из села схватиш колико смо сви колективно јадни.

      Delete
    2. INN NS, kakav je to avion širokotrupac?

      Delete
    3. Širokotrupac je sasvim prihvatljiv prevod za engleski izraz "widebody".

      Delete
  9. Last night at BEG, looks pretty hot... the B74F looks decent too. :P

    https://scontent-vie1-1.xx.fbcdn.net/hphotos-xpt1/v/t1.0-9/12249747_10153720269378826_4895898355743693473_n.jpg?oh=ef9d3abba9341c7a6a6592aeaafd5896&oe=56BDAFFB

    ReplyDelete
  10. Did Air Serbia recorded any profits too?

    ReplyDelete
    Replies
    1. Have you just walked out of a long stay in the Amazon jungle ? This has been reported for the longest time !

      Delete
  11. Дечко ТзарNovember 13, 2015 at 3:54 PM

    Time is running out for Air Serbia DoT delay to be described as administrative slip, bureaucratic error or unintentional. I have warned about this possibility back in September:

    http://www.exyuaviation.com/2015/09/ex-yu-airlines-plan-new-routes-for-2016.html?showComment=1443015535704#c7522191750505799326

    ReplyDelete
    Replies
    1. The permit is being issued today...

      Delete
    2. i don't understand why "time is running out" ? They can't speed up approval processes within the administration of someone else's govt bureaucracy. if you had followed the approval process online - which is totally transparent - you would have seen that there were no objections filed and the US and Serbia now have an Open Skies bilateral agreement. So there are no show stoppers here .. it is simply bureaucracy at work - much that you would wish otherwise..

      Delete
    3. Дечко ТзарNovember 13, 2015 at 4:34 PM

      I'd like to believe permit is being issued today, but there were no heads up info about it and docket is the same as it was two months ago.

      And no, I would not wish otherwise, second anon. If anything I would love to see approval asap. Other carriers have started offering their bottom of the barrel fare basis on JFK-XXX-BEG for S16. Price sensitive travelers going in larger groups or specific dates are conditioned to book early as availability for those fares is limited, and ASL is not able to compete because of this delay. I am not in support of the delay, quite opposite, but I am not convinced delay on the DoT side is glatt kosher.

      Delete
    4. Imas neki link gde moze da se vidi da je odobreno?

      Delete
    5. On pozna nekoga ko zna nekoga ciji stric zna sta se radi

      Delete
    6. Well didn't Vucic say it will be hy the end of this week?

      Delete
  12. OT
    TAP je napravio novu porudzbinu
    14 A330-900 Neo ponistena porudzbina A359
    15 A320 Neo
    24 321 Neo
    INN-NS

    ReplyDelete
  13. Random OT's about Serbia:
    1. India signed “Agreed Minutes” with Serbia.
    2. The Indian delegation met the delegations from Greece, Serbia, Qatar, European Union, and Brunei Darussalam and discussed about expansion of air services between India and these countries.
    3. Signed Bilateral Air Service Agreement between Sri Lanka and Serbia is now approved by the Sri Lankan Cabinet of Ministers.

    Sources: http://www.voyagersworld.in/article/india-oman-pact-grants-5131-more-airline-seats and http://www.dailynews.lk/?q=2015/11/13/political/cabinet-decisions-13112015

    ReplyDelete
  14. Ne znam da li je sa 12 aviona i 40 destinacija 2 mil $ ok cifra za 9 meseci?

    ReplyDelete