Montenegro Airlines posts record results


Montenegro Airlines has continued to post record passenger growth, with both its operational and financial recovery on track. The Montenegrin carrier handled 250.296 passengers during the first half of the year, representing an increase of 9% on 2017. The number of operated flights grew 6.6% to 3.209. The average cabin load factor improved three points to 65%. "The growth in all of the aforementioned sectors comes as a result of the implementation of the optimal commercial strategy, as well as the responsible planning of resources and costs, which all had a positive impact on our operational results during the first half of the year", the airline said in a statement. Montenegro Airlines accounted for almost a quarter of all passengers passing through the country's two international airports - Podgorica and Tivat.

On the financial front, the carrier's figures improved some two million euros, despite an increase in the cost of fuel, with expenses growing to 1.2 million euros over the H1 period. However, no further financial results have been released at this point. "The latest data shows that Montenegro Airlines continued to achieve positive financial growth during the second quarter despite some aggravating factors which are primarily linked to the significant increase in the cost of fuel. Therefore, we expect to attain the goals set as part of our business plan by the end of the year", Montenegro Airlines' CEO, Živko Banjević, said.

The Montenegrin carrier continued to record passenger growth during the month of June with figures growing an impressive 16.5% to 73.305. As a result, the airline handled an additional 10.387 travellers. A total of 64.500 passengers were carried on scheduled flights, while the rest were transported on charter services, up 87.6% on 2017. The destinations which recorded the biggest passenger growth this year were Copenhagen, with a load factor of 83%, followed by London with a cabin occupancy rate of 82%, then Belgrade with 75%, St Petersburg at 73% and Moscow with a load factor of 71%.


Comments

  1. Love the B737 in Montenegro's livery. Looks great.

    ReplyDelete
    Replies
    1. +1 Hope this lease means they will choose Boeing next year.

      Delete
    2. Have they decided which they are going to take next year? They said it is between more Embraers or next gen B737s

      Delete
    3. They haven't made a decision yet. I'm sure it will be reported here when they do.

      Delete
    4. The Boeing classic addition is nice :)

      Delete
  2. Very nice growth from MGX.

    ReplyDelete
    Replies
    1. Not bad but they are operating more flights.

      Delete
  3. Got to say load factor is on the low side. 65% isn't much.

    ReplyDelete
    Replies
    1. For ex-Yu airlines this is standard.

      Delete
    2. It's just the first six months. LF improves during peak summer travel period.

      Delete
    3. Interestingly it's the first time they ever published their LF.

      Delete
    4. Probably because in the past it hovered around 60%.

      Delete
  4. Copenhagen performing nicely. Maybe they should make it a year round route.

    ReplyDelete
    Replies
    1. Is this route operated from TGD or TIV?

      Delete
    2. Both but they launched TIV-CPH last month.

      Delete
    3. Ok thanks

      Delete
    4. Scandinavia won't go year round to Montenegro. It is an extremely seasonal market to ex-Yu. Even JU struggles to fill the flights from Copenhagen and Stockholm during winter.

      Delete
    5. It seems to be true actually. There are no flights from Stockholm to Ljubljana, no year round flights from Stockholm to Zagreb either

      Delete
    6. But there are year round flights from Stockholm to Podgorica by Ryanair.

      Delete
    7. Belgrade has three airlines operating year-round flights to Stockholm.

      Delete
    8. Belgrade is the leader of Balkan aviation.

      Delete
  5. The financial results are quite vague. But I'm happy they are improving.

    ReplyDelete
    Replies
    1. We really can't conclude anything from the financial info they offered.

      Delete
    2. Lol it's laughable to say the least. "we achieved two million better result". You could still have a 100 million euro net loss which improved from 102 the previous year.

      Delete
    3. +1 last anon. It's better if they didn't even bother to mention their financial performance if they are only going to give us what they did.

      Delete
    4. so 100 million debt is better than 102...What is the point?

      Delete
  6. They have to work on seasonality issue with the government and the tourist board.

    ReplyDelete
    Replies
    1. I wonder who has the bigger seasonality issue. Montenegro airlines or Croatia airlines?

      Delete
    2. Having the TGD-BEG and TIV-BEG route helps a lot with seasonality, especially TGD-BEG-TGD which performs equally well in summer and winter.

      Delete
  7. Bravo Crna Gora!

    ReplyDelete
  8. It's good to see they are growing despite the much increased competition in Montenegro this year.

    ReplyDelete
    Replies
    1. Agree. Considering the competition they have now from Wizz, easyjet and Ryan, they seem to be doing well.

      Delete
    2. Don't forget quite a significant number of respectable full fare airlines that fly to Podgorica as well.

      Delete
  9. Bravo Montenegro Airlines! I hope they manage to come on the right track financially.

    ReplyDelete
  10. Nice numbers so far.

    ReplyDelete
  11. I will say it again - time to merge Montenegro Airlines, Croatia Airlines and Adria Airways under control of 4K/Lufthansa.

    ReplyDelete
    Replies
    1. Impossible, since Montenegro is not in the EU, unlike Slovenia and Croatia, and probably won't become its member until 2025 (best case)!

      Delete
    2. Still can be done. Adria Slovenia, Adria Montenegro and Adria Croatia. Or Adria buy Montenegro and put planes in Podgorica and Tivat just like Wizz put some in Belgrade, Skopje and Tuzla.

      Delete
  12. They finally discovered charter flights and the money it brings. I would strongly recommend Croatia Airlines to do the same.

    ReplyDelete
  13. Do they plan to open any new routes?

    ReplyDelete
    Replies
    1. Would be nice if they finally introduced Zagreb and returned to Skopje and Pristina.

      Delete
    2. They could have also tried a seasonal one weekly Tivat - Banja Luka flight. Would have done well like it did for BH Airlines back in the day.

      Delete
  14. Some of the key performance indicators are showing signs of improvement but we can't conclude anything without financials.

    ReplyDelete
  15. In the end I doubt they will make it.

    ReplyDelete
    Replies
    1. Just remember it's the only carrier in ex-YU growing and not shrinking in size or selling slots to survive.

      Delete
    2. JU nor JP have sold any slots - what are you talking about ??

      Delete
    3. JP sold LHR slots in 2006.

      Delete
    4. The only carrier in the Ex-Yu region that not only it is not growing but instead reduces it's flight schedule is ASL.

      Delete
    5. Yet it records the biggest profit, still has the most flights, the biggest fleet, the most passengers, the highest load factor, is the only wide body operator, and is the only long haul service operator.

      Delete
    6. What profit?
      It is still getting massive subventions from the GoS!!!
      Read up and quit with the propaganda!

      Delete
  16. I'm getting the impression that the new management (the post Daliborka one) knows what's it doing. They seem to have made some good decisions.

    ReplyDelete
  17. Next year should be very interesting to see what they choose to do with their fleet. They promised this year they would lease a second hand 120+ seater and they did so I tend to believe they will make good on their promise to remove the Fokkers in 2019 and 2020.

    ReplyDelete
  18. Ok, posle ove jednačine iz saopstenja koliki je minus?

    ReplyDelete
    Replies
    1. We would now had they published last year's half yearly financial resilt. But they didn't.

      Delete

Post a Comment

EX-YU Aviation News does not tolerate insults, excessive swearing, racist, homophobic or any other chauvinist remarks or provocative posts with the intention of creating further arguments. A full list of comment guidelines can be found here. Thank you for your cooperation.