Annual financial report, including the external auditor’s report, has been adopted at the session of the Shareholders’ Meeting held today, thus confirming the solid operations of the national air carrier, Montenegro Airlines, in 2013.

Yesterday, the Board of Directors of the national air company Montenegro Airlines reviewed the Report on business performance for 2013. In 2013, the national air carrier, operating six aircraft, recorded better performance by 12.74% compared to the previous year results. In 2013, the company recorded a fall in the number of flight hours by 3%, but the load factor was by 2% higher than in 2012.

In addition, the operating costs were reduced by 4%, which implies the result of comprehensive rationalization measures that have been implemented with an outstanding outcome. The Board of Directors, since 2013 composed of the following members Daliborka Pejović, Tufik Bojadžić, Duško Lalićević, Branislav Golubović and Živko Andrijašević, concluded that the continuous implementation of projected goals and plans is an imperative.

Despite the strong competition at the market, particularly in times of low-cost companies emerging on the sky of Montenegro, Montenegro Airlines has still succeeded to carry almost 50% of the total number of visitors arriving to Montenegro by air, on the annual basis. This stands as the evidence that the national air carrier succeeds to be competitive. New routes and improvement of services imply a detailed and essential development programme. All of the above stated fits in the concept of the majority owner, the Government of Montenegro, and relates to the availability of Montenegro as tourist destination where the air transport is of particular importance, states the conclusion of the Shareholders’ Meeting.

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