Serbian Railways operator Srbija Voz suspended train services last weekend following bomb threats, resuming operations only on Monday evening, with disruptions continuing into Tuesday. This was the third such incident in 2025, following similar threats on March 14 and June 27, all coinciding with large public gatherings in Belgrade and Novi Sad.
According to company data cited by Forbes Serbia, these repeated suspensions, along with delays in reopening key routes, have had a major financial impact. In the first nine months of 2025, revenues reached 6.98 billion dinars, or 82% of the planned 8.5 billion, falling short mainly due to reduced domestic ticket sales. Income from the domestic market totaled just under 3 billion dinars, compared to the 3.85 billion planned, a shortfall attributed to the closure of Novi Sad station and the postponed launch of high-speed train services between Belgrade, Novi Sad, and Subotica.
The company exceeded expectations only in foreign market sales, earning 323 million dinars, 20% above target. Operating costs were lower than planned — material, fuel, and energy costs were down 30%, though depreciation expenses rose by 20%. Net losses stood at 861 million dinars, smaller than the projected 1.1 billion, but still a significant deficit.
Service disruptions were widespread. In total, 9,174 trains were not operated as planned this year — an average of 34 cancellations per day. The Novi Sad–Subotica line accounted for the largest share, with 4,392 canceled departures, while another 1,436 trains between Niš and Leskovac were also canceled due to delays in infrastructure works.
In comparison, during the same period last year, only 1,772 trains were canceled, showing a drastic deterioration in service reliability.
The most significant operational setback stemmed from the collapse of the canopy at Novi Sad station, which forced rerouting of trains to Petrovaradin and replacement bus transport. This incident, combined with the delay of the high-speed line to Subotica, reduced passenger traffic and ticket income.
Between January and September 2025, 2.42 million passengers traveled between Belgrade and Petrovaradin, generating 600 million dinars in revenue, a 40% drop compared to the same period last year, when over 3 million passengers and 1 billion dinars in revenue were recorded. The Belgrade–Novi Sad line remains crucial, accounting for 37% of total revenue and 45% of all passengers.
The company’s report concludes that the postponed opening of the high-speed railway and repeated bomb threats have had a severe negative impact on both financial results and overall railway operations.
