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Air Serbia increases revenues by 87 pct in 2014

Xinhua, March 5, 2015 Adjust font size:

Serbian national carrier Air Serbia increased its total revenue by 87 percent last year comparing to 2013, and expanded its list of destinations by 16 cities, it was reported Wednesday.

Air Serbia posted its best results in the history of the national carrier with some 2.7 million euros (2.99 million U.S. dollars) of profit and total revenue of 262 million euros.

The company also transported significantly more passengers and cargo. According to the report, some 2.3 million people traveled with Air Serbia, which is an increase of 68 percent comparing to 2013, while the company transported 2,700 tons of cargo (67 percent increase).

Air Serbia also renewed its fleet by ordering 10 new Airbus aircraft and refurbishing its existing five ATR aircraft.

James Hogan, president and CEO of Etihad Airways, expressed his satisfaction with the "progress that Air Serbia made in delivering on its performance objectives in the very competitive European market."

Dane Kondic, CEO of Air Serbia, commented that the results validate the effectiveness of the strategy implemented by the company in the past year.

Air Serbia was launched in October 2013 as an equity partnership between Etihad Airways -- that has 49 percent share in the company -- and the Serbian government. Endit