Podgorica, (MINA-BUSINESS) – According to Executive Director of Montenegro Airlines (MA), the company finished the last year with a loss of €1.97 million, while its overall result was around two and a half times better than in 2017.
“The company’s financial result for the last year is positive, since its revenues exceeded the expenditures by €245,000. However, because of considerable financial expenses, the loss amounted to €1.97 million,” Banjevic said.
He said that this was the best income statement the company had had in the previous ten years, since its transformation from the limited liability into a joint stock company, adding that it came in the record-breaking year in terms of the number of passengers carried.
Banjevic said that MA had carried a total of 645,000 passengers last year in all three categories of transport, which was an absolute record since the establishment of the company.
“In early 2017, the company was in almost hopeless situation, with a €11.47 million loss from 2016,” Banjevic said at a meeting of the MA Board of Directors.
He said that the measures taken by the new management, with the Government’s support, had resulted in a reduction of loss by nearly six times at the end of 2018. Longer version of article is available on a link MINA ENGLISH SERVIS
