The Serbian Government on Thursday approved this year's financial plan for the Serbia and Montenegro Air Traffic Services (SMATSA), two sources unofficially confirmed to the Podgorica daily Vijesti.

One source revealed that, despite dissatisfaction with SMATSA’s performance, the Government decided to adopt the plan following recommendations from Construction, Transport and Infrastructure Minister Goran Vesic and Finance Minister Sinisa Mali.

For the past eight months, SMATSA operated under temporary financing after the Serbian Government withheld approval for the 2024 Financial Plan. Subsequently, the supervisory board failed to adopt the Business Plan through 2028.

SMATSA is a joint company of Serbia and Montenegro, which manages airspace over both countries and the southern Adriatic Sea. The highly profitable company, funded by airline fees, is 92 percent owned by Serbia and 8 percent by Montenegro. Reports indicate that SMATSA currently holds 50 million euros in retained earnings.

The Montenegrin Ministry of Transport said that the Montenegrin Government approved SMATSA’s Financial Plan in March 2024.