|Croatia Airlines sees notable profit and modest passenger growth|
Croatia Airlines has seen its passenger numbers grow a modest 0.4% over the past nine months, while at the same time doubling its net profit. The carrier handled 1.441.250 passengers in the first three quarters, up 0.4% on the same period last year. Out of those, 1.009.859 passengers were welcomed on international flights (up 2%), 373.534 on domestic services (down 1%) and a further 57.857 travellers on charter flights (a notable 16% decline). However, it should be noted that charters account for only 4% of the carrier’s total traffic. The average cabin load factor stood at 69.6%, almost unchanged from 69.8% the year before. Overall, Croatia Airlines saw its numbers improve on flights to and from Belgium (+20.4), Bosnia and Herzegovina (+9.3), the Netherlands (+7.1), Germany (+4.8), France (+4.6) and Austria (+2.9). On the other hand, the carrier recorded poorer results on services to and from Italy (-12.1), Macedonia (-4.8%), the United Kingdom (-4.3%) and Switzerland (-0.4%). Passenger numbers on other markets detracted a total of 7%. On the whole, the airline operated 20.249 flights, up 2.3% on last year.
On the financial front, the Croatian carrier reported a net profit of 5.6 million euros during the first three quarters of 2014, which is more than double on the same period last year. The airline is now on track to post a net profit for a second consecutive year. In 2013 the Croatian carrier posted its first profit in six years totalling 87.450 euros. Revenue decreased 2% due to slower ticket sales. The airline managed to decrease its expenditure by 4%. It spent most on flight operations, then maintenance and passenger services. Croatia Airlines invested 3.1 million euros in its fleet, mostly on engine changes and the refurbishment of seats on its Airbus fleet. Furthermore, a total of five C-checks were carried out (on one A320 and four Dash 8s).
Overall, Croatia Airlines has twelve aircraft in operation, five of which it owns (one A320 and 4 A319s) and the other seven which are on financial lease (one A320 and six Bombardier Dash 8s). The average age of its aircraft stands at 10.4 years. Together, the fleet operated 28.886 block hours of flying time, up 2%. The airline has 967 employees (330 of which are non-operative) which is down from 1.041 staff at the end of 2013.