Friday, November 20, 2009

Croatia Airlines losses swell

Passengers stable- finances trembling
Croatia Airlines has seen its losses soar. On Wednesday the airline reported that it ended the first 9 months of the year with a net loss of 94.2 million Kunas or 12.88 million Euros. During the same period last year, the airline reported losses of 22.2 million Kunas or 3 million Euros. Croatia Airlines’ operating earnings also fell by 18%. This is despite Croatia Airlines’ cost cutting measures, which were introduced earlier in the year. The Croatian national carrier has, unlike most European carriers, managed to keep its passenger numbers stable in spite of the global financial crisis. However, this did little to save the airline’s finances.

The other 2 main airlines in the region, Adria and Jat also reported losses with the latters amounting to 11 million Euros for the first 9 months while Adria has reported some improvement with its figures.

Despite the grim news, Croatia Airlines has announced that it will prolong its seasonal Split to London service until the end of November. After the winter break, the service will recommence in March.


  1. Slovenian local newspaper says that Adria had loss in first and second quarter (no numbers) but it had 800 000€ profit in third quarter. It adds that year end will be ended with loss.

    1 A320 was sold in August for 3M€ (I hope that is not included in above profit :p )
    Second will be sold in next month.

    Adria adds that in summer fleet will look like:
    1 A320
    2 A319
    4 CRJ9
    7 CRJ2

  2. Do you know anything about Hungarian stop for flights Dublin - Sarajevo via Budapest. I want to reserve my ticket, but it looks impossible. thanks and good blog btw :)

  3. So many of the world's airlines are posting financial losses so the figures mentioned aren't surprising. None of these airlines though are 'against the wall' and will cease operations leaving thousands stranded...

    What the article doesn't mention is that OUs cabin load has fallen -an indicator many airlines are measured against, and this is due to more flights and larger aircraft.

    If they're prolonging flights out of SPU there has to be some financial incentive for them.


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