The President and CEO of Croatia Airlines, Krešimir Kučko, has resigned from his post and will step down on November 4 following five years at the company's helm. In a statement, the carrier said, "As the CEO of Croatia Airlines, Krešimir Kučko successfully carried out the company's restructuring process and overturned its financial losses by posting a net profit for the past four consecutive years. During the last two years, he expanded Croatia Airlines' route network by adding eight new routes and solidified the company's position as a regional leader". The carrier added that Mr Kučko will take on a new role at another company. On the other hand, Mr Kučko's critics argue that the airline achieved profitability in large part due to the sale of its valuable assets, including landing slots at London's Heathrow Airport, which will be factored into this year's performance. Furthermore, plans to expand the fleet by adding six 100-seater aircraft and the opening of several bases across the Balkans did not materialise despite numerous announcements. During Mr Kučko's term in office, the airline also witnessed its worst industrial action, paralysing the carrier and its operations for eight days in 2013.
The state is now expected to appoint a new CEO, with a decision possible as early as today. Over the summer, the Croatian Centre for Restructuring and Sales ran an open call for a new head of the company. Although Mr Kučko himself applied for the post, others included 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. Some media have suggested that the process may now have to be repeated. Intense lobbying by all the candidates and their backers is said to have taken place over the past few weeks.
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| Krešimir Kučko |
Mr Kučko's successor faces several challenges which will include navigating the airline's privatisation process following a previous failed attempt, combating increased competition and declining market share, which will amount to 27% this year, as well as maintaining profitability. The airline's new CEO will also have to renegotiate contracts with the carrier's staff who recently agreed to put off industrial action until further notice under the condition for fresh talks to take place with the management following the busy summer season. Furthermore, the airline has seen a number of its pilots and mechanics leave this year. The Supervisory Board of Croatia Airlines will meet on Friday when they are expected to endorse Mr Kučko's resignation from his posts as a member of the Management Board and President and CEO.
Comments
U svakom slučaju stvar nije tako jednostavna. Ima tu jako puno toga u pozadini.
Jedini koji može nešto napraviti of Croatie, kao što je napravio i od tada prezaduženog i kreditima opterečenog zagrebačkog aerodroma.
Uz to ima i podršku radništva.
On top of that, due to EU rules the government can't provide OU with a fresh dose of capital it desperately needs. Kucko has sold almost all valuable assets leaving the airline with next to nothing.
Unless they bring someone competent who can both secure a loan and then use those funds wisely, I don't see a bright future for OU.
But what I am sure is that you can not say "More of Ivan Misetic". Misetic has his own interest in Croatia Airlines and for sure Matkovic is not the one.
"solidified the company's position as a regional leader".
What is it with the Balkans and regional leaders?
http://www.exyuaviation.com/2017/02/croatia-airlines-to-raise-funds-for-neo.html
Because they would be able to use 100 seaters during the winter instead of the larger Airbus aircraft on a lot of routes and this would allow them to offer its surplus Airbus capacity to the ACMI market. Also they need a plane to bridge grap between Dash 8s and A319s
Here are scenarios:
- Government will sell Croatia to Lufthansa
- Government will sell Croatia to some other company
- Government want Croatia to be independent company as that is important for Croatian tourism
They will choose one of candidate depends what they want from that list.
But what I see is that Government does not care. Croatia is not important for them as they can not make simple decision for 5 months now.
mgx & ju are heavily unprofitable, and adria's profitability is a joke.
OU's 2016 positive results were without selling anything.
but in general i agree.
in some dark place dane is reading that line and ordering his PR to prepare a statement to reclaim the throne of REGIONAL LEADER
OU had negative cash flow for the last two years, so it beats me how they plan to finance it.
that's what I've wanted to say.
Kako je sjećanje kratko,naravno kad nekom to odgovara!
Jedna od "zasluga"Gosp.Matkovića bio je i dio problema i gubitaka Croatia airlinesa!
Upravo je Matković i Zračna luka Zagreb bila kažnjena od Agencije za zaštitu tržišnog poslovanja RH zbog korištenja monopolne pozicije preme Croatia airlinesu!!!!
Godinama nije investirao u Zračnu luku Zagreb,te tako "ostvarivao"veliku dobit,a naravno koristeći bonuse zbog iste,kako je to tadašnji Ugovor s NO ZLZ dozvoljavao!
No ko se još toga sjeća!
Sve mi liči na geslo:"Što započe Kučko,nastavi Boško!"
Glad the guy is going.
In the end Europe will have three primary Airlines, and three LCCs period.
Final possible solution: JU and OU merge!
opet, malo sam alergičan kada čujem "plešo prevoz" jer ne znam kako je taj posao mogao da se proda za više od par desetina hiljada evra, što je smešno za cifre o kojima pričamo, a croatia je imala samo 50% udela.
"Pored navedenog, Društvo je do studenog
2015. g. je posjedovalo 50% udjela u zajednički kontroliranom društvu Pleso prijevoz
d.o.o., Zagreb...Udjele u Pleso prijevozu d.o.o. Društvo je u cijelosti prodalo u studenom
2015. godine, te ovo pridruženo društvo nije uključeno u konsolidaciju za razdoblje
siječanj – prosinac 2016. godine."
His proteges in the company must also worry for their position
Hand the company back to professionals
The world and the airline market is however a moving business and one cannot rely on old victories for the future. But as is very common, when things were great, it was Tito/whoever who made the country great. When things went worse, it was always somebody else's fault.
Anon. 10:18
Nekako se bojim da niste u krivu. Nadam se da neće biti tako, ali ništa mi ne govori da niste u pravu. Možda je to i razlog toliko maratonskog prolongiranja odluke.