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Belgrade Airport First-Half Profit Declines 43% on JAT Payments

Aug. 14 (Bloomberg) -- Aerodrom Nikola Tesla AD, Serbia’s main airport, said first-half profit declined 43 percent from a year earlier because of a failure by JAT Airways to pay for services.

Net income fell to 495.2 million dinars ($5.2 million) from 874.1 million dinars even as the number of passengers rose 11 percent to 1.48 million and flights increased 1.8 percent to 21,361, the government majority-owned operator said in a regulatory filing to the Belgrade Stock Exchange.

JAT, Serbia’s state-owned flag carrier, accounted for more than a half of all flights and owes almost 684 million dinars to the airport, the company said.

Pretax profit fell almost 45 percent to 521.6 million dinars. Sales were little changed at 2.92 billion dinars, the airport 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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