Air Serbia "to break even by end of year"

The Air Serbia carrier expects to break even at the end of this year and have its business at "a positive zero", said Director Dane Korica.

Source: B92, Beta

"In the six months since its founding Air Serbia has built a solid foundation and is on track to break even in in 2014. The improved business result is proof that our strategy based on solid management, modern fleet expansion and good organization of the transport network is producing results," he was quoted as saying in a statement issued by the company.

According to Korica, the company "has become the leading airline in the region, which will positively impact the Airport Nikola Tesla in Belgrade, so that it becomes a regional center for aviation transportation."

In the first quarter of this year, Air Serbia saw a 47 percent increase in revenue compared to the same time last year, said the statement, but did not specify any figures.

The statement did say that Air Serbia had 364,924 passengers, a 66 percent increase, and transported 175 tons of cargo, "46 ​​percent more than in the first quarter of 2012."

The company is a joint venture of the government of Serbia and Etihad, the airline from the United Arab Emirates. It is the successor to Jat Airways, and has operated since October 2013.

In 2013, Jat Airways reported losses of USD 73 million.

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