Air Serbia Passes 100 Destinations, Adds Two New Aircraft
Serbia's national carrier logged 2,062,488 passengers in the first half of 2026, almost 57,000 more than a year earlier. Air Serbia is adding two aircraft, and its network has passed 100 destinations.
Air Serbia carried 2,062,488 passengers in the first six months of 2026, almost 57,000 more than in the same period of 2025. Translated into a growth rate, that is about 2.8 percent on a half year basis, a pace closer to a mature market than to expansion.
The two millionth passenger of the year boarded on June 27, three days earlier than in the previous season. The difference is small, but it is measurable, and it shows the traffic curve is moving forward rather than back.
Network Grows Faster Than Passenger Numbers
During 2026 the airline opened ten new direct routes, pushing the number of destinations in its network past 100. Compared with the 2.8 percent growth in traffic, the conclusion is clear: the network is expanding faster right now than demand is growing on existing routes. New destinations, in other words, are the main driver of growth, not higher load factors on routes already flown.
That model carries a cost. A new route rarely fills a plane to the point of profitability in its first seasons, so the pressure shows up in margins and in average revenue per seat. That is why the choice of destinations matters here more than the raw number of them.
Why Is Air Serbia Opening Routes It Didn’t Plan?
Because part of the network is not built in a five year plan, but during the season itself. CEO Jiri Marek named Munich and Brac as two destinations that were not in the original network and were added in response to shifts in the market.
“On one hand there’s a long-term development strategy, and on the other we use the opportunities that come along and react to changes in the market,” Marek said.
Munich and Brac are, on top of that, two entirely different businesses. The first is a business and transfer route to one of Europe’s strongest hubs, the second a seasonal leisure route with a short sales window. A carrier holding onto both types of route at once needs a fleet made up of aircraft of different sizes, which explains the company’s next move.
Two New Aircraft: an Airbus and an Embraer
HR Director Milica Netkovic confirmed the capacity expansion: “We expect two new aircraft in the fleet, one Airbus A320 and one Embraer,” she said.
The combination is not accidental. The Airbus A320 carries about 150 seats and covers routes with steady demand, while the Embraer, with a considerably smaller cabin, makes it possible to open a route that would not fill a larger plane. For a network of more than 100 destinations, where a good number of routes have limited daily potential, a smaller aircraft is the condition for the route to exist at all.
Belgrade Runs on Transfer Passengers
The figure that says the most about the company’s business model is that about 40 percent of passengers pass through Belgrade as a transfer, not as their final destination. Nearly every second passenger, in other words, does not come to Serbia but passes through it.
For that model, every new route carries double value: it brings its own passengers while also feeding every existing route in the network. That is the economic justification for opening ten routes in a single year, even when an individual route does not cover its costs in its first season.
The domestic market is currently moving in two directions at once. While the national carrier expands its network out of Belgrade, Ryanair is pulling out of Nis airport, further concentrating traffic on a single hub.
Revenue of 720 Million Euros, and the Profitability Question
The company posted revenue of nearly 720 million euros in 2025. Marek insists that figure is not a measure of success on its own.
“This isn’t just a race for the number of passengers or the number of aircraft. It’s far more important that the business stays healthy, that we’re profitable and sustainable,” Marek said.
The statement also amounts to a preview of the methodology: revenue in air travel rises relatively easily, by adding flights, while profit is defended through load factor and revenue per seat. The company does not publish those two figures alongside its monthly results.
Among the company’s staff, women hold about 40 percent of managerial and executive positions, and the airline has a double digit number of women pilots.
The next check on the numbers comes with full year 2026 data, when it will become clear whether the ten or so new routes lifted traffic above the half year’s 2.8 percent, and at what cost per seat.
