Three Years of Positive Performance and Continued Growth

To Montenegro has concluded another business year with a positive financial result — the third consecutive year.

 

In 2025, the company achieved the following key results:

• Revenue amounted to EUR 58.4 million
• During 2025, the company carried 509,574 passengers
• On 5,698 scheduled and charter flights
• During 2024, the company carried 498,833 passengers
• On 5,796 scheduled and charter flights
• The number of scheduled passengers in 2025 was 470,444, compared to
• 452,439 in 2024
• Net profit EUR 1.35 million, an increase of 151% compared to the previous year
• EBITDA EUR 4.8 million, representing an 81% increase compared to the previous year
• Cash increased by EUR 3.2 million, while
• Total assets grew by EUR 4.7 million

All company obligations were met in a timely manner, without delays, alongside further improvements in receivables collection.

 

We would particularly like to highlight that the achieved results exceeded those planned in the company’s official documents.

 

Cost optimization measures were implemented, delivering tangible results.

 

These results were achieved in a complex international market environment, characterized by strong seasonality and rising input costs.

 

In such conditions, the continuity of positive results confirms that the company is laying the foundations for long-term sustainable operations.

 

Today, To Montenegro is characterized by stable liquidity, regularly serviced obligations, and no financial debt.

 

The new fleet structure provides a level of operational control we did not have before. At the same time, we are building the infrastructure that will enable greater efficiency in the years ahead.

 

We have launched a new website and introduced a new mobile application, as well as online/mobile check-in. At the same time, we are going a step further. Yesterday, we launched a new, advanced omnichannel contact center. Our passengers no longer communicate only via phone and email; they are on WhatsApp, Viber, Facebook, and Instagram. We must be where they are.

 

We are particularly proud of introducing artificial intelligence into our processes. We have launched an AI chatbot agent, and the launch of an AI voice agent is expected soon.

 

AI is here to handle hundreds of routine inquiries related to flight schedules or baggage rules, allowing our human agents in the contact center to focus on more complex passenger issues and provide the level of empathy and support that machines cannot. The goal is simple: 24/7 availability, seven days a week, with no waiting on the line.

 

Looking ahead to 2026, our goals include passenger growth, the introduction of a fourth aircraft, and the continuation of digital transformation. We face significant challenges in terms of market competition, fuel costs, and increasingly stringent regulations, but we have the tools, the team, and the financial foundation to successfully address them.

 

Detailed financial data will be presented through official disclosures, while the publication of the auditor’s report is expected by the end of April.