Air Serbia yesterday introduced a fourth Airbus A320 into its fleet, with a further two set to join in the coming months. The eleven-year-old jet, registered YU-APT (pictured below), entered commercial service between Belgrade and Podgorica. As previously reported, the aircraft was formerly operated by Wizz Air. It is Air Serbia’s second A320 equipped with sharklets, Airbus’ wingtip devices designed to reduce vortices and induced drag, thereby improving fuel efficiency and extending range. It also marks the second aircraft to be delivered to the airline this year, following the arrival of an Embraer E195 in January. The carrier is expected to take delivery of two additional A320s, both previously operated by Aegean Airlines. These aircraft are likely to arrive later this month, although they are not expected to enter service until June.
Air Serbia has published its financial results, reporting a pre-tax profit of 45.3 million euros, while revenues reached a record 719 million euros. In 2024, the airline posted an after-tax profit of 41.3 million euros on revenues of 700.3 million euros. Serbian companies had until yesterday to submit their financial statements for the previous year to the Business Registry Agency. The airline’s detailed financial report, which will include a full breakdown of performance metrics, is expected to be made publicly available by the Agency by mid-May. The preliminary figures would suggest a slight dip in year-on-year profitability, although the exact after-tax result will only be confirmed once the full report is released.
Commenting on the company’s performance, Air Serbia’s CEO, Jiri Marek, said, “We are proud that in 2025 we achieved record revenue and passenger numbers, demonstrating responsible and strategic management in the interest of the company, the state of Serbia, and all its citizens. Despite the dynamic and unpredictable developments in the global aviation industry, including rising operating costs and supply chain price increases, Air Serbia has shown the ability to adapt quickly and maintain stable growth”. As previously reported, the carrier handled a record 4.57 million passengers, while its average cabin load factor across the network for the duration of the year amounted to 78%.
The company previously noted that cost pressures emerged during the third quarter of 2025, which had been observed across the airline industry. During 2025, Air Serbia served 103 destinations, including ninety scheduled and thirteen charter, across 34 countries on four continents. It launched six new routes and added two Embraer E195s and one Airbus A330-200 aircraft to its fleet during the year. “In the current year, Air Serbia plans further network expansion, the introduction of new destinations, and strengthening its competitive position in regional and international markets. The company’s strategy is based on digital transformation, sustainable growth, increasing global competitiveness and service personalisation, including the introduction of a loyalty program and partnerships that further enhance service quality”, the airline said.
Nice. Any idea what is the reg of the Aegean birds?
ReplyDeleteI think they are a bit older than the ones they have been taking recently but I don't know exact registrations.
DeleteThanks.
DeleteWow, 45 Millie’s JU is money printing machine. Bravo Air Serbia 🇷🇸
DeleteC/N 4851 and 4951
DeleteThe numbers are solid overall.
ReplyDeleteNot bad results, but margins are clearly tightening.
DeleteAround 10 Euro average per passenger. Nice :-))
DeleteI would like to have seen a revenue growth much higher than 2.7% especially since passenger numbers grew much more than that.
DeleteIt is probably the reason why overall profits will be down vs 2024.
@Anon 09:26
DeleteThat makes sense. Also increased competition from a resurgent Wizz will surely push margins down to routes that they compete.
Yes, you are generally right. But today, April 1st, when the peak season has not yet started, they are already starting with 7 wet lease aircraft. Look at the ratio of wet lease aircraft to their own in the evening wave today.
DeleteIt is not competition. People knowledge about business is 0 . It is investment! Higher costs due investment. Now it is hotel, new administrative building under construction, better product etc. In long term it is lower costs and higher profit. Hard to understand by ordinary people. On account AS has 140 million euros by now.
DeletePlease explain to us "ordinary people" some of the JU investments in a better product please? I'm not aware of any recent ones.
DeleteFinancially stable, growing network, expanding fleet. Overall a positive picture. Air Serbia seems to be on a steady path. Let's see what this year brings.
ReplyDeleteGiven the current geopolitical situation and fuel prices, maintaining profitability at all will be an achievement.
DeleteWould be interesting to see how their yields compare to 2024. That would tell the real story behind the numbers.
DeleteIt will be a tough achievement, but that goes for every airline. Some years you make money some you break even and some you are in the red. Air Serbia seems well positioned to absorb any difficulties it may encounter this year.
DeleteSome years always in the red #OU lol
DeleteThat sounds like a very good result!
ReplyDeleteMay be slight dip in profitability per pax, but if we take all challenges faced in 2025 it's probably well above most analysts would have expected.
+1
DeleteAnother A320 is fine, but the average age of the fleet isn’t really improving. At some point they’ll need to think about renewal, not just expansion.
ReplyDeleteI suspect we’ll see more second-hand aircraft acquisitions in the coming years if leasing conditions remain favourable.
DeleteThe loyalty program has been “coming soon” for years now. Time to finally deliver.
ReplyDeleteIt will be launched by the end of this month.
DeleteStrong numbers but competition in the region is increasing.
ReplyDeleteespecially from LCCs.
DeleteWhat?!?
Delete^ what's confusing?
DeleteI don’t see that W6 is threatening JU in any way. More seems passive, without real ideas how to develop market. Actually, JU is attacking and hurting them much more than opposite
DeleteSo? JU competition growing as well
DeleteI’m curious how much of their network relies on transfer passengers versus point-to-point traffic.
ReplyDeleteI believe they said before that around 40% are transfers.
DeleteI believe overall it averages at 40% but there will be people who know exactly.
DeleteThat's a lot.
DeleteAnother year of growth
ReplyDelete2026 could be more challenging.
DeleteIndeed, this year will be a big test.
Delete^ It's going to be a big test for everyone, not just JU.
DeleteThe jet fuel situation will surely hurt them. Especially if they haven't done any hedging.
DeleteGiven current fuel prices those sharklets are more important than ever.
ReplyDeleteYou must be kidding...we're talking about 3%
DeleteIn which universe is 3% irrelevant?
Delete3% on millions $$$ of fuel is a lot of money.
Delete2% there, 3% there and 2% there that's how you get a profitable business.
Another steady step forward but I'm still waiting for a bold move that defines their long term positioning.
ReplyDeleteYou mean like an aircraft order?
DeleteYes
DeleteThey are not in a financial position for a large-scale order of new aircraft. Their current methods are sound and reasonable which is a refreshing thing in the region's aviation landscape.
DeleteI would be more interested in them announcing that they join an alliance or a plan to reduce wet leasing to just seasonal and increase in house operations.
DeleteActually in situations like this, wet leasing is ideal. If this global crisis continues and they are forced to downsize their network, they can just get rid of wet leases instead of having planes they have to pay for but can't utilize.
Delete^ agreed
Delete@09:21
DeleteΤhey do not have to order directly form Airbus or Boeing, they can lease new technology aircraft instead.
With rising fuel prices it makes great sense.
Another 0 knowledge 9:21 comment. Simple maths for someone is hard intellectual task. This yera I think new planes order comes. Enough money at account plus credit rating good.
Delete^ 11:02 clever lad
DeletePeople here love to predict impending global crises in travel demand but LHG announced that due to HIGH demand it will fly an extra 1600 flights this summer.
DeleteSource:
https://www.aviation24.be/airlines/lufthansa-group/lufthansa-group-boosts-summer-2026-capacity-with-1600-additional-flights/
^11:20. Not true!
DeleteLufthansa just announced today that they will ground 40 aircrafts due to low demand! CEO Cristian Spore said it this morning. Please Google it.
United Airlines (even though it is completely different market) also published 5% flights cut.
Situation in air industry is not bright. Like in many many other ones unfortunately.
And what's happening with their loyalty program?
ReplyDeletestarting at the end of the month.
Delete@09:21
ReplyDeleteΤhey do not have to order, they can lease new technology aircraft.
With rising fuel prices it makes sense.
Good result. Congratulations.
ReplyDeleteHonestly, for a state owned airline these results are good.
DeleteNice to see fleet is growing. So during first half of the year 4 planes will arrive?
ReplyDeleteFlew them last month and honestly the experience was fine, nothing special but no complaints either. If they keep things consistent, that’s already a win.
ReplyDeleteLiterally. They are fine. As someone who travels to Serbia from London every 6 weeks i can say i really find the process of passing through Belgrade airport is also really really fast.
DeleteNot sure why everyone expects massive profits from airlines. Stability is more important than big margins in this industry.
ReplyDeleteIf you are a publicly traded company than profit is the nature of the beast. You have shareholders who need dividends and money to reinvest in modern aircraft and marketing etc. Several airlines in europe do make 'massive' profits. IAG and Ryanair etc. In Air Serbias case the greater then operating profit the better for the Serbian tax payer.
DeleteIf you ask me, it's an excellent result to have ZERO. The important thing is that they don't get funded from the state budget.
DeleteNo way did Air Serbia make a profit of that size without bending accounting rules.
ReplyDeleteGood thing you know.
Delete@09:56 you state this without evidence. Whilst loads of things in Serbia are less than transparent, Air Serbia is regarded as operating professionally and to international standards of accounting. So your claim is essentially baseless.
Delete@9:56 Always wondered if some comments were made while under the influence. Now I know.
DeleteUnfortunately, Deloitte says you arr wrong. Again
Delete"Deloitte says you are wrong."
DeleteMy god, not even people who work in Deloitte trust Deloitte .
Yeah, major international auditing firms are famous for cooking the books at someone's request, hence their reputation.
DeleteSome people will write anything on here.
I noticed that the Bulgaria Air E190 wet leases are now being painted all white. Any chance they get JU livery? I flew recently on one and the entire crew except for the pilot was Serbian.
ReplyDeleteThey could at least add a decal, it shouldn't cost a lot of money: "Operated on behalf of Air Serbia" next to the front door. Also, since they've added Expo decals on every plane, they should at least add something that associates the plane with Air Serbia.
DeleteI saw LZ-BUR the other day parked at the gate and it could do with a repaint. The paint is literally falling off that bird and it looks awaful.
DeleteJU should just buy them and employ their crews. That would be a relief for everyone
Delete@09:57
DeleteAfter the Marathon experience, no more painting of wet lease aircraft is out of the question.
Bravo Air Serbia 🇷🇸🇷🇸🇷🇸
ReplyDeleteAnd bravo Srbija!!1
DeleteIt is time for a new aircraft order later this year or 2027. Fuel prices going up. It makes sense for Air Serbia to take advantage now
ReplyDeleteWrite to their planning department your desires
DeleteSeems unreasonable to order new aircraft that will be grounded after one year of utilization. And then wetlease again
DeleteAir Serbia stated that new aircraft orders could come this year if global situations continue to happen and if not they stated 2027 could be a year. It is definitely reasonable, and they dont have to get the engine with engine problems. There are other options. It is time for Air Serbia
DeleteYU-ATC is going to Naples for maintenance, will we see it finally painted in JU colors?
ReplyDeleteProbably yes.
DeleteIt needs to be back from maintenance as soon as possible. The season is starting. Painting would take even more time.
DeletePainting takes at least 20 days. This is last moment to do it this summer
DeleteNo. Painting takes 7 days.
DeleteWhat lounge at Toronto airport will business class passengers get access to when Air Serbia starts flying next month?
ReplyDeleteIt's published on their website
DeletePlaza Premium Lounge (Location: Terminal 3, International Departures area, near Gate C32 (AT Level), working hours: 05:30am – 0000 daily) *only Business Class passengers
How much state aid they received?
ReplyDeleteZero.
DeleteIs that reported?
DeleteYes, you can look at the state budget published online.
DeleteWhere online?
Deletehttps://www.mfin.gov.rs/propisi/zakon-o-budzetu-republike-srbije-za-2026-godinu-slubeni-glasnik-rs-br-1082025
DeleteLol, questionable only for those who always did nothing, know nothing and worked nothing in their miserable lives...
DeleteIdemo dalje...
ReplyDeleteYu-APT sedista su toliko neudobna da je udobnije sedeti na parkovskoj drvenoj klupi.
ReplyDeleteA vi ste se vec provozali sa njim?
DeleteVi kažete parkovska klupa a ми кажемо клупа из парка.
Delete@20:36
DeleteZasto da nije? Mozda je za TGD ili SVO leteo.