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%.
Love the B737 in Montenegro's livery. Looks great.
ReplyDelete+1 Hope this lease means they will choose Boeing next year.
DeleteHave they decided which they are going to take next year? They said it is between more Embraers or next gen B737s
DeleteThey haven't made a decision yet. I'm sure it will be reported here when they do.
DeleteThe Boeing classic addition is nice :)
DeleteVery nice growth from MGX.
ReplyDeleteNot bad but they are operating more flights.
DeleteGot to say load factor is on the low side. 65% isn't much.
ReplyDeleteFor ex-Yu airlines this is standard.
DeleteIt's just the first six months. LF improves during peak summer travel period.
DeleteInterestingly it's the first time they ever published their LF.
DeleteProbably because in the past it hovered around 60%.
DeleteCopenhagen performing nicely. Maybe they should make it a year round route.
ReplyDeleteIs this route operated from TGD or TIV?
DeleteBoth but they launched TIV-CPH last month.
DeleteOk thanks
DeleteScandinavia 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.
DeleteIt seems to be true actually. There are no flights from Stockholm to Ljubljana, no year round flights from Stockholm to Zagreb either
DeleteBut there are year round flights from Stockholm to Podgorica by Ryanair.
DeleteBelgrade has three airlines operating year-round flights to Stockholm.
DeleteBelgrade is the leader of Balkan aviation.
DeleteThe financial results are quite vague. But I'm happy they are improving.
ReplyDeleteWe really can't conclude anything from the financial info they offered.
DeleteLol 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+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.
Deleteso 100 million debt is better than 102...What is the point?
DeleteThey have to work on seasonality issue with the government and the tourist board.
ReplyDeleteI wonder who has the bigger seasonality issue. Montenegro airlines or Croatia airlines?
DeleteHaving the TGD-BEG and TIV-BEG route helps a lot with seasonality, especially TGD-BEG-TGD which performs equally well in summer and winter.
DeleteBravo Crna Gora!
ReplyDeleteIli bravo Crna Goro?
DeleteIt's good to see they are growing despite the much increased competition in Montenegro this year.
ReplyDeleteAgree. Considering the competition they have now from Wizz, easyjet and Ryan, they seem to be doing well.
DeleteDon't forget quite a significant number of respectable full fare airlines that fly to Podgorica as well.
DeleteBravo Montenegro Airlines! I hope they manage to come on the right track financially.
ReplyDeleteNice numbers so far.
ReplyDeleteI will say it again - time to merge Montenegro Airlines, Croatia Airlines and Adria Airways under control of 4K/Lufthansa.
ReplyDeleteImpossible, since Montenegro is not in the EU, unlike Slovenia and Croatia, and probably won't become its member until 2025 (best case)!
DeleteStill 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.
DeleteThey finally discovered charter flights and the money it brings. I would strongly recommend Croatia Airlines to do the same.
ReplyDeleteDo they plan to open any new routes?
ReplyDeleteWould be nice if they finally introduced Zagreb and returned to Skopje and Pristina.
DeleteThey 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.
DeleteSome of the key performance indicators are showing signs of improvement but we can't conclude anything without financials.
ReplyDeleteIn the end I doubt they will make it.
ReplyDeleteJust remember it's the only carrier in ex-YU growing and not shrinking in size or selling slots to survive.
DeleteJU nor JP have sold any slots - what are you talking about ??
DeleteJP sold LHR slots in 2006.
DeleteThe only carrier in the Ex-Yu region that not only it is not growing but instead reduces it's flight schedule is ASL.
DeleteYet 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.
DeleteWhat profit?
DeleteIt is still getting massive subventions from the GoS!!!
Read up and quit with the propaganda!
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+1
DeleteNext 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.
ReplyDeleteOk, posle ove jednačine iz saopstenja koliki je minus?
ReplyDeleteWe would now had they published last year's half yearly financial resilt. But they didn't.
Delete