Monday, April 27, 2015
Montenegro Airlines has become the former Yugoslavia's least profitable airline, its 2014 financial report shows. The Montenegrin carrier admitted today its net loss amounted to 9.5 million euros last year. The airline said its poor financial performance comes as a result of the financial lease of three Embaraer jets, an increase in handling fees at Belgrade Airport, currency fluctuations and its inability to secure a license to operate charter flights to Azerbaijan. The Montenegrin carrier was required by law to submit its financial results to the Department of Public Revenues by March 31 but has failed to do so. The government is seeking to sell a stake in the loss-making airline this year.
EX-YU airline performance in 2014:
Montenegro Airlines has become the former Yugoslavia's least profitable airline, its 2014 financial report shows. The Montenegrin carrier admitted today its net loss amounted to 9.5 million euros last year. The airline said its poor financial performance comes as a result of the financial lease of three Embaraer jets, an increase in handling fees at Belgrade Airport, currency fluctuations and its inability to secure a license to operate charter flights to Azerbaijan. The Montenegrin carrier was required by law to submit its financial results to the Department of Public Revenues by March 31 but has failed to do so. The government is seeking to sell a stake in the loss-making airline this year.
EX-YU airline performance in 2014:
| Airline | Net income € |
|---|---|
| Air Serbia | ▲ 2.7 million |
| Croatia Airlines | ▲ 921.000 |
| Adria Airways | ▲ 900.000 |
| B&H Airlines | ▼ 6.5 million |
| Montenegro Airlines | ▼ 9.5 million |
| Airline | PAX (million) | Change (%) |
|---|---|---|
| Air Serbia | 2.3 | ▲ 68 |
| Croatia Airlines | 1.8 | ▲ 2 |
| Adria Airways | 1.1 | ▲ 8 |
| Montenegro Airlines | 557.000 | ▼ 5 |
| B&H Airlines | 35.600 | ▲ 12 |
budzet Crne Gore u 2014 je bio EUR 1,5 milijardi, dakle ovih 9,5 mln gubitka je ondeo 0,63% budzeta - ne racunajuci naravno subvencije koj su davane kompanije (gubitak je on top of that). Ne znam koliko ce izdrzati da pokrivaju ogromne troskove/gubitke montengra.
ReplyDelete17 eur per pax. Could have been easily turned into profit by either slightly better lf or additional YQ (fuel) tax. But it requires proper planning by professional management that YM obviously lacks.
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