The Montenegrin airline Air Montenegro reported a net profit of EUR 2024 for 540.000. This represents a significant decrease compared to the previous year, 2023, when the airline posted a profit of EUR 3,4 million. The company's revenue increased slightly by 0,8 percent to EUR 62,8 million. At the same time, Air Montenegro recorded a five percent increase in passengers in 2024, with 498.833, driven by an eight percent increase in the number of flights operated, to a total of 5.800. The average aircraft load factor was 69,2 percent, an increase of 1,2 percentage points compared to the previous year.
Air Montenegro's CEO, Vukadin Stojanović, nevertheless remained positive, emphasizing that the positive financial results in 2024 and a strong start to 2025 demonstrate that the airline is on a clear path of growth and development. The focus remains on expanding its offerings and improving Montenegro's connections to the region and key European destinations.
Despite the lower profit, the increased passenger volume underscores Air Montenegro's growing importance to tourism and the country's economic development. The airline appears to have benefited from increased demand for air travel to Montenegro. The decline in net profit could be due to various factors, such as increased operating costs, fleet investments, or changing market conditions.
It remains to be seen how Air Montenegro will develop in the coming years and whether the company can continue its growth trajectory while simultaneously increasing its profitability. However, the announced focus on expanding its offerings and improving connections to Montenegro indicates ambitious goals for the future.