This result was achieved with 1.18 thousand flights in the regular and charter traffic.
"The company's positive business trend from last year continued in the first quarter of this year. A demanding business plan is being realized, and the company will carry out flights to 30 destinations in 15 countries during the summer season, and from the 1st of June until September, approximately 360 thousand passengers will be transported, " said MA.
The results achieved by MA, as they have pointed out, support the fact that the national airline has always been and remains to be one of the pillars of the tourism industry. The company will continue to work on advancing Montenegrin airline availability and bringing as many foreign guests as possible, all in line with the needs of the tourism industry. Last year's business revenues amounted to 67.5 million euros, increasing by three percent compared to 2016, while expenditures reduced by five percent in the amount of 71.7 million euros. MA has allocated profit of 327 thousand euros.
"An extensive program of financial and organizational consolidation was launched at the beginning of last year, which contributed to the significant improvement of the company's financial performance last year, and this result represents only a step in the way of complete financial consolidation," explained MA.
As they said, according to the financial plan for this year and the five-year plan for the period up to 2022, they expect that the performance balance will be improved year after year.
MA, as stated by its representatives, ended last year with a loss of 4.6 million euros, which is 2.5 times lower than in 2016 with 11.5 million euros.
"This result is even more significant when one considers that fuel prices in the previous year were 12.5 percent higher than in 2016, meaning that significant savings were achieved through flight optimization and lowering of other costs," MA said. Reduction of costs was also affected by the reduction of the fleet for one airplane, which, on the revenue side, was compensated by flight optimization, operational consolidation and proper cab loading, so there was no proportional reduction in flights and revenues.
MA transported nearly 570,000 passengers last year, about two percent less than 2016, with one airplane less in the aircraft and completed 372 flights less than in 2016. The Executive Director of MA, Zivko Banjevic, said that with the overall business optimization over the past year, a much better business result was achieved than in 2016.
"With the support of the Government, the efforts of the management and management structures by all employees as well as all segments that affect the company's business, we have shown that MA has a good prospect. We are still expecting a lot of work, but we are confident that we will successfully respond to all business tasks and challenges, " said Banjevic. He noted that the indirect benefit for the tourism industry is over 170 million euros per year.
Text by Mina Business, on April 29th 2018, read more at Vijesti
