Wednesday, August 30, 2017

Croatia Airlines CEO decision due this week

NEWS FLASH


The Croatian Centre for Restructuring and Sales (CERP) is expected to announce by the end of the week whether the current CEO of Croatia Airlines, Krešimir Kučko, will maintain his post or be succeeded by one of the four other candidates who are vying for the position. Mr Kučko's term in office will come to an end this Friday, however, he has reapplied for the position. Others who are in the running to manage Croatia's national carrier include aviation expert Josip Milošević, the Director of Controlling and Internal Audit at Croatia Airlines, Jasmin Bajić, the head of the London representative office of the Croatian National Tourism Board, Tonko Rilović, who previously worked in Croatia Airlines' marketing division, as well as the former General Manager of Zagreb Airport, Boško Matković. According to the "Nacional" weekly, intense lobbying has taken place ahead of the decision. The CERP board, which will be presided over by the Minister for Sea, Transport and Infrastructure, Oleg Butković, could determine the airline's new head as early as today, with the decision to be made public by the end of the working week.

14 comments:

  1. Replies
    1. "Everything should be defined by the end of the year and implemented from April 1, 2017", Mr Kučko said. "The pace at which each base will be launched will depend on the arrival of new aircraft" - one of his finer moments.

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  2. Sack Kucko, please!

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    1. Why ?? he has delivered profit every year since he has been CEO. Do you honestly think that any non-airline govt appointee can do better ??

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    2. And he can be profitable another mandate as he have 5 more planes to sell, 4 more slots and tecnics.

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    3. If it makes the company profitable, why not ?

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  3. Hope we get decent CEO whic Croatia Airlines and Croatia deserves

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  4. There was no profit based on the airlines operational business at Croatia Airlines at all. It was a loss of around 200+ mlnHRK every year compensated by sales of assets. (Sale & Leaseback) e.g. slots at Heathrow.
    So keeping the current management would just mean, that the government is unable to read financial statements or heads for Croatia Airlines bankruptcy and therefore a takeover by Lufthansa / Eurowings.

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    Replies
    1. I'm not sure which airline job description ever makes the distinction between delivering operational profit versus accounting profit.

      At the end of the day, people are judged on whether they deliver a profit - period - which this guys has done while his predecessors didn't

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  5. You are right...
    Having no job and income, then selling your house and renting it back and showing off with your annual income.
    That's professional management.

    Seems you are well informed. ;)

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    Replies
    1. Dude, whatever you are smoking is definately doing its job ... where can i get some ?

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  6. OU never makes an operational profit without selling something. Normal airlines manage to make a profit through cost effective operations.

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    Replies
    1. ...and sales !
      Croatia Airlines load factor <70%…world average 80+%

      And tourism is doing great in Croatia.

      So...start selling tickets.
      Even cost effectively operated aircraft don't make money when they are empty.

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  7. We have got to the end of the week and nothing ... same as always, "much ado about nothing"

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