Air Serbia delivers strong first quarter results with continued growth in passengers and cargo

• Revenue increases by 44 per cent from EUR 27 million to EUR 39 million
• Total passenger numbers grow by 26 per cent from 359,000 to 453,000
• Available Seat Kilometres up by 15 per cent to 795 million
• Air Serbia Cargo achieves 61 per cent growth, carrying a total of 875 tonnes
• On-time performance of 86 per cent

Air Serbia, the national airline of the Republic of Serbia, today reported continued improvement in its financial performance with revenues of EUR 39 million for the first quarter of 2015, an increase of 44 per cent over the same period in 2014.

A total of 453,000 passengers travelled with Air Serbia during the first quarter of 2015, over 26 per cent higher than the 359,000 passengers in the same period last year, while the airline's passenger carrying capacity, measured in Available Seat Kilometres (ASK), rose by 15 per cent year-on-year to 795 million.

On the cargo front, Air Serbia Cargo achieved 61 per cent growth over 2014, carrying 875 tonnes of freight in the first quarter.

Dane Kondić, Chief Executive Officer of Air Serbia, said: "We have continued to reap the benefits of our growth, which is fuelled by the development of our network and the expansion of codeshare partnerships. Our results continue to demonstrate the effectiveness of our business strategy. This is a great sign for our long-term success. As in 2014, we will continue to focus on maintaining financial discipline and control over costs. Nevertheless, this year we are committed to investing in what we firmly believe are key areas that will underpin our future success - further development of our workforce and enhancing the guest experience by innovating our products and services".

Air Serbia continues to create jobs, thereby making a significant contribution to the local economy. A single cabin crew recruitment day, held in February 2015, attracted nearly 1,700 candidates - the highest in the history of the airline, indicating that Air Serbia has become an employer of choice among young Serbian nationals. A subsequent recruitment drive was held for new cabin crew members and a number of key senior management positions.

Currently, over 2,300 employees work at Air Serbia, including its subsidiaries, Air Serbia Catering and Air Serbia Ground Services. The sustained growth of Air Serbia will continue to create a significant number of new jobs for Serbian nationals.

In the first quarter of 2015, Air Serbia significantly expanded its network through codeshare agreements with Adria Airways, Aeroflot, airberlin, Air France, Alitalia, Bulgaria Air, Etihad Airways, Etihad Regional (operated by Darwin Airline), KLM and Tarom. Air Serbia now serves 29 additional global points, including key destinations in the Far East, such as Seoul, Singapore and Ho Chi Minh City, as well as four cities in Australia.

During the first three months of 2015, Air Serbia also forged a number of strategic partnerships that significantly strengthened its global commercial presence. This included an agreement with Abacus International, the leading Global Distribution System in the Asia-Pacific region, which enables travel agents at more than 20,000 locations to gain access to Air Serbia's network of routes, partner connections and fares. In addition, Air Serbia Cargo established closer links with Global Logistics Network (GLN), enabling the carrier to extend its services to a greater customer base worldwide, while offering more choice and enhanced access to global transport solutions.

Air Serbia received some important international acknowledgements for various aspects of its operations in 2015. The internationally-regarded website AirlineRatings.com recognised Air Serbia with the highest combined airline ratings in the region. The website gave Air Serbia a six-star safety ranking, placing it among the safest airlines in the region, while it also received a five-star product rating, the highest in the region, upgrading its earlier status from a "Regional Carrier" to a "Full Service Carrier" for the first time. Furthermore, in January, the influential French magazine Marie France presented a list of top ten cabin crew uniforms, ranking Air Serbia's as second-placed worldwide.

"Customers are at the centre of our business and I extend our appreciation for their loyal support. During this year, we will continue to focus on all aspects our guests' travel experience by innovating our products and services, providing even more choice, convenience and enjoyment. We are confident that this approach will drive our continued success," Mr Kondić added.