NEWS FLASH
Air Montenegro registered a loss of 458.515 euros during the first quarter of the year. Revenue amounted to 5.3 million euros, up 170% on the same period last year, while expenditures grew 39% to 5.9 million euros. The carrier operated 772 flights and handled just under 55.000 passengers, up 70%. The average cabin load factor during the first three months grew ten points to 60%. “On services between Podgorica and Belgrade, we registered a 23% increase in flights and a 75% increase in passenger numbers, with the cabin load factor growing from 44% last year to 60% in 2023. The number of flights between Tivat and Belgrade grew 8%, while passenger figures increased 48% with the load factor growing from 40% to 60%. On the Tivat - Istanbul route, the load factor increased from 54% to 63%”, Air Montenegro said.
I'm not saying it's not bad - I'm just saying it could be worse.
ReplyDeleteHOWEVER, what are they thinking with those LFs? Not being in IATA is hurting them BIG time
At this rate of progress it means that Air Montenegro could become profitable by next year.
Delete40% is really low, hope they improve the number!
DeleteI also hope they will consider adding at least two more planes to the fleet to match the YM.
Not defending anyone but actually it’s stated that LF for Q1 stood at 60% which is not too bad for this period having in mind competition and the available fleet. When it comes to financial result - this is more than acceptable, could even breakeven if summer operations work well. The only issue is that they do not really bring much connectivity. I think Podgorica is lost for them anyway so focus should be Tivat year round operations to major hubs with codeshare agreements. We see that Istanbul has decent LF for winter, topping it up with London, Vienna and Frankfurt would make it “profitable” for the country. In that case even greater loss will be more than acceptable.
DeleteI don't see any logic in operating those year-round routes from TIV instead of TGD
DeleteConsidering the time of year, the LF, and the increase in costs across the board the result is not bad. OU has 10x the passengers and they have 20x the losses. So all in all someone is thinking along the right lines. They’ll make up for it during Q2 and Q3
DeleteThat LF is catastrophic.
ReplyDeleteTbh the result is good for Q1
ReplyDeleteLook at the revenue. It is tiny for an airline.
DeleteWhat happened to the third Embraer?
ReplyDeleteIt is good that Montenegro has its own airline and not like us in Macedonia.
ReplyDeleteAs far as I know, there is not a single registered airline or lessor with us?
JU immediately reacted after YM's collapse.
ReplyDeleteNow it will be hard to get back to YM levels.
Can we make conclusion that average one way ticket price stood at 96 euros?
ReplyDeleteNo, cause this is total revenue airline have, not just passengers revenue. Charters and wet-lease to JU should be included here as well.
DeleteWhat happened to that Crna Gora Airways airline?
ReplyDeleteThe very few independant carriers that managed to make it through the hurdles in hard times of Covid and aviation obstacles and still maneged to grow its network. Bravo Air Montenegro!!
ReplyDeleteManaged to make it through = unlimited government subsidies
DeleteUnlimited government subsidies?! Don't make us laugh. This comment has absolutely no truth in the statement whatsoever. I would suggest you try actually learning about how the government not helped at all Air Montenegro after starting their operations.
DeleteBravo Air Montenegro!
ReplyDeleteMontenegro keeps winning - as always))
ReplyDelete