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London, 1971

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Montenegro Airlines posts record results

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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%.


July 07, 2018
Feature montenegro montenegro airlines podgorica Results 2018 tivat
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Comments

Anonymous said…
Love the B737 in Montenegro's livery. Looks great.
09:06
Anonymous said…
Very nice growth from MGX.
09:13
Anonymous said…
Got to say load factor is on the low side. 65% isn't much.
09:14
Anonymous said…
For ex-Yu airlines this is standard.
09:15
Anonymous said…
It's just the first six months. LF improves during peak summer travel period.
09:16
Anonymous said…
Copenhagen performing nicely. Maybe they should make it a year round route.
09:17
Anonymous said…
The financial results are quite vague. But I'm happy they are improving.
09:18
Anonymous said…
Is this route operated from TGD or TIV?
09:19
Anonymous said…
Both but they launched TIV-CPH last month.
09:22
Anonymous said…
Interestingly it's the first time they ever published their LF.
09:23
Anonymous said…
They have to work on seasonality issue with the government and the tourist board.
09:27
Anonymous said…
+1 Hope this lease means they will choose Boeing next year.
09:49
Anonymous said…
Not bad but they are operating more flights.
09:49
Anonymous said…
Ok thanks
09:50
Anonymous said…
Bravo Crna Gora!
09:54
Anonymous said…
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.
09:54
Anonymous said…
I wonder who has the bigger seasonality issue. Montenegro airlines or Croatia airlines?
09:55
Anonymous said…
We really can't conclude anything from the financial info they offered.
09:56
Anonymous said…
Probably because in the past it hovered around 60%.
09:57
Anonymous said…
It's good to see they are growing despite the much increased competition in Montenegro this year.
09:58
Anonymous said…
Bravo Montenegro Airlines! I hope they manage to come on the right track financially.
10:44
Anonymous said…
Agree. Considering the competition they have now from Wizz, easyjet and Ryan, they seem to be doing well.
10:49
Anonymous said…
Don't forget quite a significant number of respectable full fare airlines that fly to Podgorica as well.
11:03
Anonymous said…
Have they decided which they are going to take next year? They said it is between more Embraers or next gen B737s
11:04
Anonymous said…
Nice numbers so far.
11:04
Anonymous said…
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.
11:07
Anonymous said…
I will say it again - time to merge Montenegro Airlines, Croatia Airlines and Adria Airways under control of 4K/Lufthansa.
11:11
Anonymous said…
They finally discovered charter flights and the money it brings. I would strongly recommend Croatia Airlines to do the same.
11:11
Anonymous said…
It seems to be true actually. There are no flights from Stockholm to Ljubljana, no year round flights from Stockholm to Zagreb either
11:12
Anonymous said…
+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.
11:13
Anonymous said…
Do they plan to open any new routes?
11:54
Anonymous said…
Some of the key performance indicators are showing signs of improvement but we can't conclude anything without financials.
11:56
Anonymous said…
Would be nice if they finally introduced Zagreb and returned to Skopje and Pristina.
11:56
Anonymous said…
They haven't made a decision yet. I'm sure it will be reported here when they do.
11:57
Anonymous said…
In the end I doubt they will make it.
12:03
Anonymous said…
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.
12:05
Anonymous said…
Just remember it's the only carrier in ex-YU growing and not shrinking in size or selling slots to survive.
12:06
Anonymous said…
The Boeing classic addition is nice :)
12:06
Anonymous said…
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.
12:07
Anonymous said…
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.
12:08
Anonymous said…
But there are year round flights from Stockholm to Podgorica by Ryanair.
12:19
Anonymous said…
so 100 million debt is better than 102...What is the point?
13:30
Anonymous said…
JU nor JP have sold any slots - what are you talking about ??
14:38
Anonymous said…
Ok, posle ove jednačine iz saopstenja koliki je minus?
16:48
Anonymous said…
We would now had they published last year's half yearly financial resilt. But they didn't.
17:05
Anonymous said…
Impossible, since Montenegro is not in the EU, unlike Slovenia and Croatia, and probably won't become its member until 2025 (best case)!
17:13
Anonymous said…
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.
17:37
Anonymous said…
JP sold LHR slots in 2006.
17:38
Anonymous said…
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.
18:39
Anonymous said…
+1
18:39
Anonymous said…
The only carrier in the Ex-Yu region that not only it is not growing but instead reduces it's flight schedule is ASL.
19:32
Anonymous said…
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.
19:50
Anonymous said…
What profit?
It is still getting massive subventions from the GoS!!!
Read up and quit with the propaganda!
22:34
Anonymous said…
Ili bravo Crna Goro?
23:01
Anonymous said…
Belgrade has three airlines operating year-round flights to Stockholm.
23:21
Anonymous said…
Belgrade is the leader of Balkan aviation.
01:30
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