Croatia Airlines CEO: Air Serbia non-transparent

Croatia Airlines CEO accuses Air Serbia of non-transparency and state subsidies

Croatia Airlines’ CEO, Krešimir Kučko, has accused his competitor, Air Serbia, of non-transparent behaviour, noting that the carrier receives hidden subsidies and government support, which are not in line with European Union regulations. Mr. Kučko criticised the airline in a recent interview to "Jutarnji list", stating that Croatia Airlines is still the region’s leading carrier despite Air Serbia handling more passengers in 2014. “Our results are transparent and easily comparable to others. Results from Air Serbia can’t be analysed because the last available financial report on their webpage is from 2012”, Mr. Kučko says. He adds, “We can only go by on what we know. Therefore, I would say we are still the leading airline in the region”.

In his most strongly worded statements yet directed towards the Serbian carrier, Mr. Kučko said, “We operate under strict European Union regulations, without hidden subsidies and support. We have a range of expenses other airlines, which do not operate under these rules, don’t have. Despite this, our business is stable and our profits are growing”. Asked whether he would like to see Croatia Airlines privatised in a similar manner to that of Jat Airways, later renamed to Air Serbia and part-owned by Etihad Airways, the CEO shortly answered “No”. Commenting on Air Serbia’s double daily service between Belgrade and Zagreb, launched to much opposition from the Croatian carrier in December last year, Mr. Kučko says, “Air Serbia’s route is primarily used by transit passengers to the Middle East and other European destinations. For us, there are not enough passengers on this route and it would be unprofitable”.

According to Air Serbia, the carrier handled 2.3 million passengers in 2014, an increase of 68% compared to the year before. The airline saw its net profit amount to 2.7 million euros, up from a loss of 73 million euros in 2013. The results were audited by Dutch-based KPMG but have not been publicly released. On the other hand, Croatia Airlines saw 1.8 passengers board its aircraft last year, up 1.6% on 2013. Furthermore, the carrier’s net profit amounted to 921.000 euros, which is almost ten times greater than the year before. A preliminary financial report has been published on the airline’s website with a final audited version expected soon.


  1. Anonymous09:05

    Wow... this article is gonna break all record with regards to comments...

    Here goes mine... Buuuu-huuuuuuuuuuuuuu... attack was and is always the best defense...

  2. Anonymous09:05

    He's just jelly.

  3. Anonymous09:06

    Balkan version of current US-Gulf airline spat.

  4. Anonymous09:12

    Grabing popcorn for breakfast!

  5. Anonymous09:13

    Look who's talking ,like he is transparant. Let start by how did he get the job as CEO of Croatia Airlines. He was previously working as Sales in Amsterdam and the most important he was going to get fired if it wasn't for his friend the Prime Minister of Croatia
    So please .He must just except that he is incompetent to run an airline and stop blaming others .And blame yourself .Then you will get respect.

    1. Anonymous09:16

      Bravo well said .

    2. So true......he invented lying and cheating!!!

  6. Anonymous09:14

    Psi laju, karavan prolazi. Woof!

  7. Anonymous09:16

    I don't agree with his statements but he is right about one thing. Air Serbia's last financial report on its website is from 2012. By law it is required for majority state-owned companies to publish their financial reports on their website.

    1. Anonymous09:17

      He is right about many things. The airline is not transparent and receives subsidies. But it is the region's leading airline whather he likes it or not.

    2. Anonymous15:10

      It is required for them to publish the financial reports on the APR website. Here you go:

      Deadline for 2014 is on 31.03.2015.

  8. Anonymous09:25

    Did I force Croatia to enter EU? So why companies from Nasa lijepa are complaining now? You can not be a virgin and get f*ucked around at the same time :)

    1. Anonymous00:21

      naski receno da se jebe al da joj ne ude

  9. WhoCares09:28

    What a non-news event!

  10. I don't understand this kind of people really. They should understand that spoken words bear certain weight, it is not polite or professional to bash your competitors if they did not provoke you into it - and ASL certainly did not provoke this guy to rant. He had dozens of options to present CTN as the regional leader and a strong carrier without ever mentioning ASL. And if the journalist asked for comparison with ASL he could have easily say something about different business models, ownership structure etc... and avoid any bashing comments. If you are the leading carrier then for sure you have a full list of arguments why this is the case, and you don't need to point your finger at the competition.

    I hope ASL will not officially comment on this or allow this dumbass' rant to ignite yet another unnecessary war of words ahead of the summer season.

  11. Kada bilo ko dize zastavu toliko visoko da se ni boja videti nemoze, u ovom slucaju nareceni gospodin, za sada do lzvinjenja ne i dzentlmen. Njegovoj avio kompaniji svako dobro. Molim sve koji odlucuju o prosirenju aerodrome NIKOLA TESLA, sto brze pocnu graditi terminal Tri. Sa svime ostalim sto su vec objavili. Krilima Er Srbije, Kondicevom timu je hitno potreban duplo veci proctor za sadasnji i buduci rast. My God bless you all. Srecan vam svima dolazeci VASKRS!.
    Ukljucujuci i one koji nisu u dobroj volji. Za svakog nada postoji... Rodney Son & Good will people. KVO + SYD.

    1. Anonymous13:20

      Rodney, thank you for kind words. There won't be Terminal 3 in decades. Air Serbia will announce they are giving up on flights to the USA.

    2. Anonymous16:18

      AnonymousMarch 23, 2015 at 1:20 PM

      And when the building eventually commences and flights start, you will, naturally, remain anonymous.

      Ponekad dok cekas da komsiji crkne krava, ne primetis ni sam da je tvoja odavno vec riknula.

    3. Anonymous17:44

      If T3 building does not start in years and flights don't start you will also remain anonymous.

  12. Anonymous10:15

    Let's not forget that this is referring to an paper intervju.....they are almost never correct in what was really said. Nevertheless he is right about some things.

    1. There is NO financial report published since 2012 for ASL.

    2. Same goes for the BEG, NO financial report published, dissipate that the CEO is out boosting about an impossible Net profit......

    Both the above suggests that if Serbia want's to play with the big boys, it's high time to behave and follow the rules.

    1. What you are saying about ASL may be right but it is not the job of CTN CEO to point out his finger at them shouting: "These are the bad guys!" You don't do such things in business, plain and simple.

      If he was asked a suggestive question by the journo then he should have known his way out of it. It is not his job, duty or responsibility to inform the public on ASL's behavior or rule compliance.

    2. Anonymous12:06

      @Ix: you are absolutely right, my intention was not to defend his behavior, but none of us knows what prompted his remark either. He could have been asked whatever and the journalist just never bothered to type the complete question nor the complete answer.

  13. Wasn't this guy multiple time stating that CTN is however not affected by ASL operations so far?
    Just asking.

  14. Anonymous10:33

    Ok so Kucko manipulated the amount and timing of depreciation expenses to show marginal profit. That is only misleading not illegal. Of course one can not do this forever.

  15. Anonymous10:43

    So basically OU is a more important player than Etihad or Qatar since they are also not operating under EU rules and they are not transparent.
    Serbia is not in the EU so no need to be bothered by their rules and regulations.

  16. Anonymous10:44

    zasto jednostavno ne kazes: ljubomoran sam na er serbiju i sta cu, jedino mi preostaje da pljujem po njoj. nije ni nama bliski istok ne znam koliko dobro popunjen, ali bar imamo letove i malo po malo ljudi ce leteti er serbijom i do tel aviva i do bejruta i do abu dabija.. tvoj problem sto ne mozes da mrdnes dalje od frankfurta, minhena i beca...

  17. Anonymous11:24

    Slovenia privatisation agency hired KPMG as a financial advisor for the sale of Adria Airways.

  18. Anonymous11:39

    Jeste, i KPMG je mala balkanska firma...

  19. Anonymous11:42

    Video Kučko Andersona pa hajd` i on da proba da digne nogu. Nadam se samo da će gospodin Kondić poći primerom gospodina Hogana i da neće ulaziti u ovakve besmislene rasprave i prepucavanja, ima čovek pametnija posla WiFi se neće sam uvesti u avione.

  20. Anonymous11:43

    Ne znam zasto se uzbudjujete oko toga sto je Kucko rekao? Iako je djelomicno u pravu, i ASL poslovanje definitivno nije transparentno ali to nije u ovoj prici niti toliko bitno. CTN nije problem Air Serbiji u Zagrebu, problem su drugi prijevoznici koji su puno jaci od nje.
    Tu posebno mislim na prekooceanske letove koje ASL namjerava uvesti slijedece godine i gdje racuna na transfer putnike iz Hrvatske i hrvatsku dijasporu. Ono sto se zaboravlja kad se racuna na to je da ti letovi nisu DIREKTNI i da je putnicima sasvim svejedno da li ce presjesti u Muchenu, Fankfurtu, Amsterdamu, Londonu. ili Beogradu. Stovise, konekcije preko ovih gradova su daleko bolje i brze.
    Drugo, racuna se na neku emotivnu povezanost prema Beogradu (kao da je to i dalje domaci let) sto je vrlo nepromisljeno - hrvatska dijaspora vam ne bude putovala preko Beograda koliko god da je karta mozda jeftinija.

    Trece, nisu Arapi nikakvi mocnici bez obzira na to koliko para imaju. Oni su samo lutkice koje igraju kako im Washington naredi. Pogledajmo samo sto je Washington napravio Putinu kad je srusio cijenu nafte i time preko noci oslabio ruski proracun i strmoglavio rublju?! A sto tek mogu napraviti Arapima koje kontroliraju?
    Za sada se rat vodi samo na relaciji americke avio kompanije vs. arapske, ali kad americka vlada i politika stane iza njih budite uvjereni da ce do nekog kompromisa doci i da se MB3 nece moci tek tako siriti. A ASL u cijeloj prici nije uopce bitna - Arapi ce sve snage uloziti da se dobro obrane od USA-EU napada i eventualno obrane svoje vece investicije u EU kao Alitaliju, a ASL je ionako vise manje financirana od strane srpskih poreznih obveznika nego od samih Arapa i vrlo lako se mogu povuci iz cijelog deala.
    Mislim da je jako dobro da je Etiha usao u JAT i popravio situaciju bez obzira koliko to kostalo srpske gradjane jer budimo realni oni bi ionako placali ceh losem JAT-u, a ovako su ipak dobili kompaniju koja nesto vrijedi i koja ima sanse ici dalje.
    Ali treba srezati megalomaniju u glavama nekih i raditi stvari polako ali temeljito.
    I opet da ponovim, CTN zaista nije konkurencija ASLu, i stoga se ne treba uzbudjivati oko toga sto je Kucko rekao. Zaista ne bitno.


    1. Anonymous12:23

      Slusaj i nacrnji ujak ce leteti preko Beograda u vansezoni preko bare ako mu to bude odgovaralo, tim domoljubnim pricama mozete malo Kucka da zavaravate. Pitanje je koliko gradjani Srbije treba da podrzavaju svoju aviokompaniju, ali to sigurno nije posao nekog iz CTN dok se ne dodje u EU.

    2. Anonymous12:29

      Varaš se!

    3. "Stovise, konekcije preko ovih gradova su daleko bolje i brze."

      Kako ti to znas kad ni letovi za Sj. Ameriku niti su poceli, niti su oficijelno najavljeni a pogotovo ne da se zna kada lete i koliki je transfer time za zagrebacke putnike

    4. Damien,

      Na stranu tvoje geopolitičke prognoze o tome šta se i kako sprema Arapima, može čitav tvoj post biti istinit od početka do kraja ali opet ne daje odgovor na jedno prosto pitanje:

      Šta, za ime sveta, Kučko ima sa tim? Od kada je njegov posao da javnost upopzorava na nivo transparentnosti u poslovanju ASL? Šta on želi da postigne takvim javnim prozivanjem (za koje mu niko iz ASL nije dao povod)? Ja radim u velikoj evropskoj kompaniji gde na spisku Top10 stvari koje se nikada ne rade stoji javno napadanje i prozivanje drugih korporacija, bile one konkurencija ili ne.

      Ako CTN zaista nije konkurencija ASLu (kao što kažeš), to je samo još jedan razlog više da CEO CTNa ne ulazi u javna prozivanja ASLa niti da komentariše njihovo poslovanje.

    5. Anonymous13:57

      I highly doubt it will be cheaper than via western hubs, and going wrong way with atr for 45 min and waiting for connection and then 30 min to come further than croatia will not be practical. China and far east are different story

    6. Anonymous14:17

      Da, nije prilično da se Kucko na taj način obraća javnosti - slažem se!
      Sto se tiče geopolitičkih igara, brzo ce ameri ukrotiti Arape - najveće tržište nafte je EU i USA.
      A sto se tiče ovih drugih postova u vezi konekcija - nema šanse da Beograd bude konkurentan velikim hubovima i njihovom ponudom letova. I naravno skupljanju milja.

    7. Anonymous14:24

      O kakvom bre skupljanju milja govoris gde ti zivis to se ne isplati vise nikom ko nema poslovna putovanja barem jedanput mesecno preko bare.
      Toliko su skresali milje za najpovoljnije cene karata. Ti ljudi ionako ne mogu biti cilj ASL.

    8. Purger00:56

      Nije istina. Air France je napravio program Blue Bizz i svatko iz moje firme tko kupuje karte preko Air France milje idu na jedan račun, onaj mog poduzeća. U godinu dana prikupio sam 800 EUR, što će reći 2 besplatne karte iz ZAG via CDG do LHR. Mene ovo opako motivira da ja i moji djelatnici koristimo Air France, KLM, Alitaliu i Deltu.

    9. Za jednu godinu čitava tvoja firma sakupila je milja za dve besplatne karte unutar Evrope? To ti lepo govori u kakvu farsu su se pretvorili ti programi. Ja sam pre 6-7 godina bez ikog drugog mogao da za godinu nakrcam dovoljno milja za više od deset takvih letova (u Star Alijansi) a sada mi je to spalo na 3-4 iako letim istim intenzitetom ili čak nešto većim.

    10. Jeste OT, ali moram komentarisati... Ja iz licnog iskustva, mislim da su ti programi prava smijurija, ako se posmatraju samo karte koje mozes dobiti. Za godinu dana imao sam cca 25 evropskih povratnih letova u ekonomskoj klasi. Nije nesto intenzivno, ali tako je kako je - nije ni za baciti. Osim silver statusa u Miles and More (koji nisam mogao koristiti na aerodromima sa kojih sam letio - mozda na svega 3-4 leta da sam uspio koristiti benefite loungea), dobio sam cca 35000 bodova za koje mogu, ako ne gadjam akcije, kupiti jedan evropski povratni let. To bi bilo 4% bonusa, ali za taj let moram platiti takse, pa prava usteda mozda dodje 1-2%. Bolji popust imam u lokalnoj piljari....
      Mozda grijesim i nesto previdjem, ali tako ja to vidim....

    11. Purger08:54

      Moja firma baš i nije toliko velika. To smo natukli sa nekih 25 intekontinenentalnih letova i 4-5 unutar Europe. U svakom slučaju dovoljno je motivirajuće da ću se odlučiti za njih ako su uvijeti tu negdje +/- 100 EUR i +/- 2 sata duži put.

  21. Riječanin11:59

    One thing is clear the Serbian Government, in order to balance the huge debts of JAT, and be ready to sign the equity agreement with Etihad handed the debts over taxpayers in Serbia or do you think that all was free of charge for Belgrade?

    1. Za tebe isto pitanje: Šta Kučko ima sa tim? Šta se njega tiču dugovi Jata i kako ih je Srbija rešila? Od kada je njegov posao da javnost upopzorava na nivo transparentnosti u poslovanju ASL? Šta on želi da postigne takvim javnim prozivanjem (za koje mu niko iz ASL nije dao povod)?

  22. I remember well the times some 15 years ago.
    Back then OU had a fleet of brand new A319 and A320 and had three times more pax than JU.
    Croatian economy was booming with tourism being a locomotive of economic growth. OU faced little competition in bringing tourists from far to their coast.
    Today OU makes profit only through selling assets and making layoffs. Orders are on hold.
    So far, even what Serbia got is not quite awesome, but is the best we could get as a solution for huge losses' making JU. I hope getting greater profits in the future thanks to slowing down expansion which lets LF grow faster, combined with lower prices of fuel. Croatia Airlines can't harness from that as theyre limited with fleet and highly dependent on Lufthansa and other *A dictates.So far *A is the major limitation factor to OU growth as they are required to comply to its major members needs and forget about long haul or high frequency routes. They can be actually happy as they still make some profit from such an environment.

    1. Anonymous14:05

      15 years ago, no matter how good your efforts and fleet, croatia could not attract big number of tourists because of fresh scars of unfortunate wars between two countries, plus NATO bombing of serbia, even 9/11 which deffered people from flying all over the world. Today, region is much more stable, and tourism and passengers numbers are booming for all countries.

    2. Anonymous21:38

      problem kod croatie, kao i kod svih državnih firmi na balkanu, je kolicina politickih uhljeba koji su tamo da primaju placu za to sto stavljaju prst u uho i surfaju facebookom cijele dane. Kad se konacno shvati da administrativno osoblje nikako. ali nikako nebi smjelo prelaziti broj djelatnog osoblja (piloti, stjuardese, mehaničari i sl.). Oni obavljaju primarnu djelatnost i donose prihod, dok drugi samo isisavaju uz duplo veću plaću i nerad.

  23. Anonymous13:54

    What a whiner! He's losing any respect he might still have. Why are CEOs so obsessed with what other airlines are doing? Worry about your own company better.

    Also, Serbia is not in the EU so why would you demand that they follow EU laws?

    I know these boards can get nationalistic so FWIW, I'm not Croatian or Serbian.

    1. Anonymous14:17

      Just to answer your questions : First, CEO's must know what CEO's of other companies do, and do they do it in accordance with laws, rules and regulations, because not sticking to laws, rules and regulations brings one CEO and his company in unequal position and makes their job much more difficult.
      The answer to your second question is that Serbia, as candidate state for the EU MUST stick to every single law, rule and regulation, like it was full member state, in order to prove its ability to become full member, where Serbia is not an exception, but on the contrary, all countries which joined had to go the same way.
      And I don't care at all what are you by ethnicity and where are you coming from, because it has nothing to do with the FACT that ASL business is NOT TRANSPARENT from the first day of its existance.

    2. Anonymous14:45

      2:17 PM

      If ASL ever gets fined for being non-transparent or breaking laws and regulations, that fine will be based on a PROPER AUTHORITY'S DECISION. And I have some news for you - NEITHER YOU OR KRESIMIR KUCKO ARE THE PROPER AUTHORITY TO MAKE SUCH DECISION.

      EU is a well-organized place and when there is improper conduct by airlines they sanction it. ASL case will not be an exception - they will not escape the verdict if they did something contrary to ECAA or the EU accession chapters. There are relevant, authorized bodies who will decide on that. YOU ARE NOT SUCH BODY AND KRESIMIR KUCKO IS NOT SUCH BODY and that is a FACT you keep ignoring when you come back here every day to lecture people on laws and regulation.

    3. Anonymous16:25

      Kucko is not making any decisions, he is merely expressing his opinions, just like a CEO of Lufthansa or OS, or any other airline CEO is entitled to.
      And yes, he does have the right to express his opinion because AIr Serbia DOES fly to several Croatian airports.
      In a couple of years this bubble known as ASL will implode anyways....

    4. Anonymous17:49

      Sure he has the right to, but it still does not mean what he does is smart. It is also not considered a good practice in c-suite business.

      Defending an obvious fail just because you hate ASL so much is yet another bad practice that would not get you far in the world of aviation (or any other) business.

  24. Anonymous14:56

    Gospodin Kucko je pokusao da imitira jednog od CEO UA-DL-AA niti on ima silu od Aviokompanije kao oni pa da moze da popuje nekome to je jako nekulturno.
    A vi sto tvrdite da nece nijedan Hrvat iz CAN-USA leteti sa ASL je istina i kao sto nece niko iz ZAG leteti preko BEG.
    Nadam se da ce ovaj novinski naslov ignorisati ASL.

    1. Anonymous15:18

      Jako je nekulturno, da ne kazem i stupidno, ljude uopste, a u ovom slucaju avioputnike, deliti po etnosu, i tvrditi da svi pripadnici jednog etnosa iz jedne destinacije nece preko druge putovati u trecu.
      Cinjenica je da ogromna vecina putnika iz Zagreba nece za Severnu Ameriku pitovati preko Beograda, zbog toga sto :
      1. BEG do daljnjeg nema niti ce imati linije za Severnu Ameriku
      2. Cak da tih linija i bude, geografski je nepovoljnije vracati se na istok, pa se onda opet vracati na zapad, to znacajno produzava putovanje
      3. Najvise jedan potencijalni let za SAD/Kanadu dnevno iz Beograda, sa 2 konektivna leta iz Zgareba dnevno, ne moze nikako biti povoljniji sto se tice vremena tranzita, od npr. 5 letova dnevno za Minhen ili 4 za Frankfurt, koliko ih ima, i sa desecima letova dnevno iz tih gradova za Ameriku.
      4. Novi menadzment MZLZ ozbiljno radi na uspostavi celogodisnjih direktnih i nonstop letova za severnu Am.
      5. Cena letova koju bi ASL mogla ponuditi, pogotovo nakon proteka eventualnih promotivnih rokova, nikako ne bi mogla biti drasticno manja, i time konkurentnija od ostalih prevoznika, s obzirom na strukturu kompanije.
      6. Zbog svega navedenog, pre ce se desiti da pojedini putnici iz BEG putuju za severnu Am. preko ZAG, nego obrnuto.
      7. Ako neko nema prava prigovarati drugome da popuje onda si to ti jer iz dana u dan ovde popujes svima nama

    2. Anonymous15:27

      BEG do daljnjeg nema niti ce imati linije za Severnu Ameriku
      Totalna ne istina kao i uvek za nekoliko meseci ce posade krenuti na obuke ako bude sve po planu.
      Ipak ce nekoliko putnika putovati preko BEG.
      A za ostale tacke necu ni da se raspravljam sa vama zato sto ce to dovesti samo do svadje.

    3. Anonymous15:52

      3:18 PM

      Rekao si:

      "Jako je nekulturno, da ne kazem i stupidno, ljude uopste, a u ovom slucaju avioputnike, deliti po etnosu, i tvrditi da svi pripadnici jednog etnosa iz jedne destinacije nece preko druge putovati u trecu."

      ... a zatim si u 7 tačaka učinio upravo ono što si nazvao nekulturnim i stupidnim - dokazivao si da niko od putnika sa jedne destinacije neće preko druge putovati u treću.

    4. Anonymous16:01

      Ja se bojim da ce renovirani Terminal 1 u Beogradu izgledati ovako:

    5. Anonymous16:04

      Anonymous March 23, 2015 at 3:18

      Putovacete vi i te kako. I ne samo kao sto i sad putujete iz vase prestonice preko Beograda, koristeci dva dnevna leta, vec i iz drugih vam gradova. A na to ce da vas navodi vasa ekonomska situacija, koja nije nista bolja od nase.

      A sto se tice pravopisa, na srpskom se kaze "desetine letova". Zna Google translate da ponekad uprska. Drz' se u buduce izvornog dialekta. I sa kvazi-modifikacijama, mi ga jos uvek razumemo.

    6. Anonymous20:08

      LOL. That's why Turkish planes are full of Cro-pax going to America.

    7. Anonymous20:24

      Prosječna plaća:

      Hrvatska 735 eura
      Srbija 363 eura

    8. Anonymous22:30

      Hahha dobro si ga provalio.

      Već nekoliko puta pokušava da piše na ekavici, al mu ne ide.

      Što se tiče toga što je kao glupo ići na istok, pa onda na zapad, reći ću ti da dok je jat leteo za maltu, uvek smo išli preko OS jer je bio mnogo jeftiniji. A ti vidi koliko je to skretanje sa putanje ukoliko se ide na Maltu preko Beča.

      A da ne pričamo ukoliko se ZAG linija apgrejduje pa se manje bude išlo sa ATR-om. Gubi se sat-dva maksimum sve skupa. Što ipak nije ništa, ukoliko uzmemo u obzir da let do amerike traje ionako dugo.

      Što se tiče toga da li JU može da parira po cenama ovim tvojim iz Star alijanse, naravno neće moći uvek. Ali će moći nekad. JU je šampion u dampingu. Zagreb - Moskva 170€. Pa ti vidi.

      Želim ti da naučiš da pišeš komentare pretvarajući se da si Srbin.

    9. Anonymous23:11

      Uobicajen izraz u Srbiji za ZAG, MZLZ, hehehe/

  25. Anonymous16:18

    My feeling is that Mr Kucko knows his days are numbered. He will now say anything to try to save face. It would be nice, if he was serious, to at least be able to let us know what his intentions are once the current restructuring is over.

  26. Anonymous17:10

    ot: Aerodrom Nikola Tesla

    1. Anonymous18:26

      Tango6 had the same news. I am confused with the news, which one is true:

      1-BEG is valued at 200-210MEUR
      2-BEG is valued at 400-500MEUR
      3-BEG is valued at stock price x shares
      4-BEG is valued at what "working group" will say

    2. The value of BEG airport is the amount of money that someone is willing to pay for it.

    3. Anonymous19:28

      Yes, that will be the price if they decide to sell, which is unlikely. However news article confusingly mentions options 1, 2 and 4 while leaving out one that is relevant - option 3.

  27. OT:
    Traffic statistics between Belgrade and Split in 2014.
    Total number of passengers 21.848
    SPU-BEG 11.270
    BEG-SPU 10.578
    Number of flights 333
    Lijep pozdrav iz SJJ

    1. Anonymous18:30

      Sto nema nista novo na tvom forumu danima? Pozdrav od Djordja.

    2. Zdravstveni razlozi :(

    3. Anonymous19:38

      Indeed, people should be free to make whatever comment they feel they need to make - Mr Kucko included.

      HOWEVER, it is a generally accepted principle that to make negative comments in the way and manner that Mr Kucko has been reported as making, is undignified to say the least. I don't recall ever seeing or reading comments attributed to Mr Kondic, in being critical towards any other airline - OU included. Perhaps Mr Kucko is feeling the heat and needs to deflect comments elsewhere in order to take the focus off his own efforts.

      What i find extremely nonsensical, is how he sees that JU is adversely impacting on his airline. I say this, because they operate only 2 ATR flights per day into/out of ZAG. Thats a grand total of 132 seats per day, compared to OU's 12 aircraft which together, amount to over 1,600 seats per day.

      If my maths is correct, this represents approx 8% of OU's total daily seat capacity.

      Can an airline - any airline - with such a small amount of capacity really be cause for concern ? If it is, then the problem is not with JU, rather, it is with OU, which has far deeper issues than they care to disclose.

      As for transparency, JU is required to be compliant with the laws of Serbia, which is where it is domiciled. It is required to upload its results to the APR website, like all public companies - which it has done for the last financial year, ended 2013. It will need to do so for 2014 by the end of April.

      Furthermore, to suggest that it isn't compliant with the law, is incorrect, else it wouldn't be flying. Moreover, they wouldnt be flying to all destinations across the EU if they were in breach of ECAA regulations. They would be grounded quick smart, as would any other airline in breach of any laws - national or EU (since it is a signatory to the ECAA).

      These arguments are red herrings, without any basis.

      The more critical question that people should be asking, is whether their business model is sustainable and that question will no doubt be answered in the fullness of time.

      In the meantime, my advice, for what it is worth, is that airline CEOs should be focussed on their own competencies in managing their businesses

    4. JU's 132 seats per day (each direction) is overall a rather small concern. What should be worrying for the guys at OU is the sum of all the small incursions into OU's market that OU has no answer for, which come from all sides:

      Air Serbia: ex-yu and south east Europe traffic
      Low cost carriers: making bases in coastal airports
      Adria: renewed "hybrid" low cost carrier stealing traffic from ZAG
      Budapest: LCC fortress within driving distance of much of Croatia.
      Star alliance: not loyal to OU, now bypassing OU as a Balkan hub, Swiss starting Zagreb and Sarajevo.

      And now, if OU awakens from this process of restructuring, even if they look towards the east and south, they will have to combat JU on almost every potential route. JU has the upper hand because the network is now pretty significant in the Balkans.

  28. Anonymous18:44

    Zivni malo taj blog!

  29. Ma o cemu pricate vi?
    Pa pretrazite malo koje kompanije daju najbolje dilove i bice vam sve jasno.
    Turkish iz Beograda preko Istanbula nudi kompletnu Severnu Ameriku.
    SWISS ima jako puno ljudi koji iz LONDONA preko Ciriha i Zeneve odlaze za NJUJORK. Ako ne verujete potrazite sami.
    Proslog decembra na mom letu iz Njujorka do Zeneve je bilo minimum 20 ljudi (verujem i mnogo vise) koji su se kontektovali dalje na LCY u Zenevi. Ako to nije backtracking onda ne znam sta jeste.
    Manite se vise o ovim silnim budalastinama kako niko nece leteti ovim ili onim kompanijama. Cek da najave prvo letove, da vidimo raspored letenja (siguran sam da ce biti vrlo convenient posebno za ZAG, PUY, DBV i SPU da bi osigurali apsolutno dobre konekcije) i da onda pocnu da ih prodaju, pa cemo onda da pricamo da li ce i ko da leti ASL za USA i CAN.

  30. Anonymous01:17

    Croatian butthurt level 1000 reached!

  31. The dog food guy01:37

    Hopefully one day people in this blog will realize that air travel is all about money and prices and not nationalism, product, flight time, connection time. YES people do look at connection times, but unless its 6-7+ hours nobody will give a damn. Also 90% of people dont give a damn about product and food( unless you are extremely rich or into aviation). EVERYTHING IS BASED ON AIR TICKET PRICE and not whether its SERBIAN OR CROATIAN.

    1. IMO connection time and total length of travel do play a fairly big role for a lot of people. The rest I fully agree with you. The only people who I've ever heard talking about service, FF miles, lounges etc.are hard core enthusiasts (negligible amount) and those traveling on someone else's buck. Diaspora for ex. mostly will spend couple hundred more to get there sooner or with less hassle.

    2. The dog food guy04:31

      I was referring to across the pond flights, and to be honest I don't think +/-2-3 hours of flight time and a connection of around 3-5 hours would prevent me or anyone I know from buying a cheaper ticket. Polish people are the best example, they would rather fly via munich to warsaw than direct ONLY because of 50 bucks ( which based on North American Standards is really nothing).

      In regards to ASL;
      I know last year when the TLV plane comes in the evening with transfer pax, almost all of them will stay in the airport for the whole night and wait for the morning departures.

      So generally connection time ( decent one 4-5 hours) and total length are NOT important for a lot of people. ( unless its 10 hr connection of course).

  32. I think it all depends on one's situation. It's hard to generalize it.I can only tell you what my thinking is every year when I buys YYZ-SJJ tickets for me and my family.

    My preference is actually to fly two evenly split legs. So, if i could fly through LHR I would since I'm 196cm tall and have two small kids. Hence, I'd be willing to pay little more. Now, my parents for example would prefer direct since they don't speak the language, are older etc.and they would pay more for that.

    At the end a day I think that you are correct it all boils down to the price. It's just that some people will pay little more to satisfy their preference. What's that "little more" for someone is very hard to establish. In my case, usually the cheapest option is to go with TK via IST. However $200-300 is still not big enough saving for me to put myself through 10hr YYZ-IST leg. Hence, I usually go LH/AC/OS via MUC and VIE. Now if this was $500 x four of us, hmm I would think about it, maybe I'd make a stop over or something.

    Funny story, just today I had this same conversation with three guys who are planning their "annual pilgrimage" to Belgrade. The consensus opinion is that the best option is Lot Polish because of late departure from YYZ and short connection. It helps that they are usually at least on par price wise with everybody else. Also, before I forget, please don't compare us with Polish cheapskates. I'd like to think that we are still better then them LOL.

    Good night and greetings from Canada

    1. I have no issues with admitting my time is worth less than $10 per hour. I am a poor student, and there is no way I will ask my parents to support me any more than they already do (they do a lot).

      I would rather sit in a bus for 15 hours compared to fly for 5, even though the savings are about $100. Those $100 can only come from 10 hours of working.

      This is why LCCs are so successful. There is a lot of people like me, especially in ex-yu. I always thought that Air Serbia should have been a hybrid LCC, similar to airBaltic or Flydubai. A lot more people would be able to fly.

    2. Aleksandre, for flights within the same continent I'm going for the cheapest option and don't mind sacrificing some reasonable amount of free time. Where I make a difference is long haul and again that's mainly because of the circumstances and because now that I'm not student, I can afford it. 15 years ago I flew 16 hours, two stop because of $75. My in laws who are retired still do that-they are not in a rush enywhere.

    3. Just to add something else. People will choose one flight over another one for a variety of reasons depending on where they are going , who is paying for it, how much it costs etc. I firmly believe that who the owner is or what's the name of the company is most likely somewhere close to the bottom of this list

    4. Certainly, I completely agree with everything. I hope one day I won't have to always go for the cheapest option, but right now my time is worth nothing, but my money is worth a lot to me.

      But overall, in ex-yu, I would say that the vast majority of people are in my situation (earning less than $10 per hour) and to them price is the most important. Air Serbia could significantly increase the number of potential customers by reducing costs.


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