Thursday, March 12, 2015

"Croatia Airlines can survive without a partner"

Croatia CEO in favour of recapitalisation as airline opens new hangar

The CEO of Croatia Airlines, Krešimir Kučko, has said that a strategic partner is not vital for the national carrier’s survival. The remarks were made yesterday at a press conference in Zagreb as the airline officially presented its new hangar at the airport, which is expected to generate almost six million euros in additional revenue each year. Commenting on the government’s search for a new owner, Mr. Kučko said that Croatia Airlines can survive without it but added that a partner would enable the carrier to expand more swiftly and with greater ease. “Investors are following trends and will recognise that Croatia Airlines is a good opportunity to invest in”, Mr. Kučko said.

The CEO reiterated his stance that the airline should be recapitalised, rather than taken over by another carrier. Recapitalisation would entail changes to the airline’s capital. This may occur, for instance, when a creditor exchanges a loan for a stake in the company. It is believed that Qatar Airways, which last week said it would seek stakes in foreign carriers that do not require the airline’s expertise or management, could be in favour of such a model. In previous comments made, Mr. Kučko said that Croatia Airlines should steer clear of “predators” which could destroy the company and cautioned the government to avoid adopting similar privatisation models to those used by the Czech Republic and Serbia for the sale of their respective national carriers. The Croatian government is in the process of finding a strategic partner for its airline and hopes to complete the process before the next parliamentary elections which must be held before February 20, 2016.


Meanwhile, the airline’s newly built third hangar has begun maintenance work on its first aircraft from Croatia Airlines. The carrier’s maintenance division is one of its most lucrative with a significant number of foreign customers using its services, most notably Lufthansa. The airline has employed 43 additional maintenance staff and will launch a cadet program for thirteen engineers. Furthermore, the new hangar will boost capacity by 30%. The facility will allow the airline to offer D checks, which is the most demanding a comprehensive check for any aircraft. It is also the most expensive. “Our airline is the first in the region to offer D-checks. This is a new revenue stream for us”, Mr. Kučko said.

33 comments:

  1. The hangar looks great but Kucko is still an idiot!

    ReplyDelete
    Replies
    1. Apparatchik bureaucrat par excellence.

      Delete
    2. Well said. This is the most bad CEO in the world.
      He is destroying OU and filling his own pockets.

      Delete
    3. Totally agree, would love to see the back of that apparatchik asp. OU needs a new management that will enable airline to grow but also generate decent profits, impossible with that lying conman Kucko.

      Delete
  2. Is this guy for real?

    Mr Kucko, we did not need a ''predator'' airline to destroy our national carrier - thank you very much, we did it all by ourselves, veru succesfully... just like you did OU.

    For us, EY was godsent... literally.

    ReplyDelete
    Replies
    1. Both OK and JU would have been long dead had it not been for the predators.

      Delete
  3. OT: Saw Air Serbia ("Novak Djokovic") plane for the first time yesterday morning at Schiphol, also taking off, just before us. Looks really cool. Lots of people around gate casting interested looks.

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    Replies
    1. Every time I go to BEG I fell in love with AS livery all over again

      Delete
  4. This is really a bad signal to all possible investors or buyers.

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    Replies
    1. Noo, all this is telling them is he would be the first guy to make redundant after the investment.

      Unless he is saying what Croatian Gov. is actually thinking. Thank you are right.

      Delete
  5. Sounds like someone is fighting for his job again.

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    Replies
    1. Completely agree.

      BTW nice hangar. Looks good.

      Delete
  6. Da Drzava ima zelju da proda CTN odavno bi ga prodali nebi tu mogao nista Kucko.
    Air Croatia ce sad navodno da leti sa ATR 42 .
    INN-NS

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    Replies
    1. ATR42? Zar nije bio Embraer of Estonian Air?

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    2. Da ali je doslo sad do promene letece sa ATR 42
      I OS dobija 17 Embraer 195 u svoju flotu kao sto sam vec rekao a 26 marta dobijaju novi livery sa kojim ce leteti za BEG.
      INN-NS

      Delete
    3. Значи ни држава Србија није хтела да прода Јат толике године?

      Delete
    4. Nije imala kome da proda ali hvala bogu da ga je uzeo EY. Ali drzava HR ne radi bog zna sta da proda CTN .
      INN-NS

      Delete
    5. Не лупај, било је прилика само што је држава тражила сувише пара. После је наступила економска криза и све се распало.

      Притом, по теби коме би могли да продају ОУ да стварно хоће?

      Ти живиш у неком паралелном свету. Много ти је добро.

      Delete
    6. Ja sam jos otkad rekao da ga nece mozda nikad prodati ali sto ne prodaju LH.
      INN-NS

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    7. Зато што је сама Луфтханса рекла да није заинтересована да купује друге авио компаније докле год не стабилизује ове што има.

      Delete
  7. How is the privatisation process going anyway?

    ReplyDelete
  8. Air Seychelles posts third consecutive year of net profitability
    Air Seychelles, the national carrier of the Republic of Seychelles, today announced a third consecutive year of profitability after recording a net profit of US$3.2m for 2014.
    The result exceeds last year’s profit of US$3 million and reflects continued improvement in the airline’s key performance indicators, following Etihad Airways’ acquisition of a 40 per cent share in 2012 and the implementation of a turnaround plan to create a sustainable business.
    Izgleda su samo u EY alijansi EY-Air Seychelles i ASL svaka cast.
    INN-NS

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  9. OT

    Starting with 01.04.2015 Lot will be increasing BEG to daily and they will introduce a new fare without luggage. Cheapest return fare will be €60.

    ReplyDelete
  10. "D" checks were done long time ago by JAT / JAT tehnika so the comment about being the first in the region to do it is not correct or just wishful thinking by OU management.

    ReplyDelete
  11. Bolji naslov bi bio:
    "Croatia Airlines can survive without Kučko"
    Kučko Fail

    ReplyDelete
    Replies
    1. He he, or
      Croatia Airlines survives Kučko!

      Delete
    2. Last year Purger told us Kucko was leaving in September. Then he said he had cancer.
      I asked him several times why he is still on this position. But I never received a reply.
      And what are the results of USKOK?
      How long will this failure can go on and on?

      Delete
  12. Za sve one koji kuju u zvezde ASL i pljuju po CTN : Ima dve narodne mudrosti koje glase : "Brzo je kuso" i "Polako pa sigurno". Koja se od njih odnosi na koju kompaniju, zakljucite sami, ma koliko vam Kondic i/ili Kucko bili simpaticni ili antipaticni

    ReplyDelete
    Replies
    1. da li sam verujes u to sto si napisao?

      Delete
    2. Mislim da Anonymous 6:05 PM pokušava isprovocirati i ljubitelje ASL-a i CTN-a, bezveze

      Delete
  13. Great looking hangar,however Q400 (on jack's)Airstair door not fully secured , easy for some maintenance personnel to accidentaly step off the a/c injuring him/her self,caution tape anyone ???

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  14. OT: Zagreb airport passenger boarding bridges bit too close to each other and isn't there a danger of aircraft hitting hitting supporting column thingy underneath each PBB that sticks out like a sore thumb ?

    http://i.imgur.com/m4jZ0yj.jpg

    I think these are unnecessary, or need to be redesigned so there's little risk of aircraft hitting these with their wings.

    I can understand why developer went for these, mainly due to the costs associated with the whole project, also maintaining these can be expensive so they went for the cheaper option, not the cheapest but cheaper for it is not common, in fact no other airport has these anywhere in the world.

    Also do these ramps need to stick out so much, can't the be shorter, at least from this image I think they're at least 25m long and sticking out dangerously, I think they can make them 10m shorter easily I can understand they're there for mainly for elderly and disabled but I think it'll be a lot smarter if they're bit shorter, they don't need to be 25m they can be 17.5m if less is not an option.

    just an idea





    ReplyDelete
  15. edit:

    Also do these ramps need to stick out so much, can't they be shorter, at least from this image I think they're at least 25m long and sticking out dangerously, I think they can make them 10m shorter easily I can understand they're there mainly for elderly and disabled but I think it'll be a lot smarter if they're bit shorter, they don't need to be 25m they can be 17.5m if less is not an option.

    just an idea

    ReplyDelete

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