Belgrade Airport’s Nine-Month Profit Falls 38% on JAT Payments

Aerodrom Nikola Tesla AD (AERO), Serbia’s main airport, said nine-month profit dropped 38 percent as JAT Airways, its biggest client, delayed payments for its services.

Net income fell to 1.08 billion dinars ($12.3 million) from 1.74 billion dinars a year earlier, the state-controlled company said in a regulatory filing today. Sales increased 4.3 percent to 4.53 billion dinars as the number of passengers rose 8.3 percent to 2.64 million in the period. The number of flights was little changed at almost 35,000, it said.

JAT, the unprofitable carrier the Serbian government is seeking to sell to private investors, owed 3.1 billion dinars to the airport at the end of September, the operator said.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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