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Air Montenegro's financial rise: revenue and profit growth

April 12, 2024

The national airline, Air Montenegro, continues its financial and operational rise, achieving 62.3 million euros in revenue in 2023, which represents a 45% increase compared to 2022.

The realized profit, as an indicator of the success of the business and the effective earnings of the company, amounts to 3.47 million. Compared to the year 2022, in which the financial result due to investments and global trends was negative, the total result is better by 5.93 million euros. Also, 475,000 safely transported passengers represent an increase of 31.05% compared to 2022. In addition, the network of 17 regular destinations, with the tendency of further growth of all parameters in 2024, testifies to the success of the company.

A rarity in the aviation industry is the fact that Air Montenegro achieved a positive financial result already in the third year of operation, which confirms the strength and sustainability of the company. All of the above is the result of the dedicated work of the company team and correct strategic decisions that enabled effective adaptation to market trends.

"We are proud of the financial results achieved during 2023. We are also aware of the upcoming challenges, but also of the company's great potential. We will continue to provide the best possible service to our passengers. Our focus will continue to be on supporting the tourism economy and generating as much as possible tourist traffic, for the benefit of the economic development of Montenegro", said Air Montenegro CEO Mark Anžur.

Air Montenegro thanks its passengers, partners and employees for the dedication they showed during the past year. The company points out that they are optimistically planning future activities with the aim of even more intensively connecting Montenegro with the rest of Europe and the world.

"Montenegro deserves to be branded as an extremely attractive tourist destination, dominantly oriented towards high-paying markets. Air Montenegro is committed to that", concludes CEO Mark Anžur.

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