Croatia Airlines gets first €13.5 million injection


Croatia Airlines has received the first tranche of a planned 33.7 million euro injection from Croatia's budget to stabilise the carrier prior to recapitalisation. Last Thursday, the government advanced 13.5 million euros to the company’s accounts, with a further 20.2 million to be paid in 2020. Finance Minister Zdravko Marić said the decision to provide funds to the carrier is aimed at helping the country's tourism sector. "In the case of Croatia Airlines, it is well known that the company plays a great role in tourism and in connecting Croatia with the rest of the world. I am not happy or satisfied with the situation, but we have assessed that Croatia Airlines and Croatia's airports have great potential”, Mr Marić said.

Financial projections for the next two years showed that Croatia Airlines would be unable to do the repair and overhaul of two aircraft engines without the support of the government, pay its debt to Croatian suppliers and finance other necessary investments. The state last recapitalised Croatia Airlines in 2013 with 106 million euros, barring it from providing further aid until 2023 under European Union regulation. It is believed the government has found a way around this by claiming the Croatian carrier paid excess tax since its last restructuring process and is now being compensated for it. The development comes after the Slovenian government refused to provide extra funding for the privately-owned Adria Airways, which subsequently declared bankruptcy.

Croatia’s Prime Minister, Andrej Plenković, noted, "We are sending a strong message to our national carrier, because it is important for Croatian tourism. We expect the company to be consolidated and financially ready to make new forward strides, while also bearing in mind its existing partnerships that are vital”. Under the terms of the capital injection, a model for the company’s privatisation process must be drafted and presented to the government by December 31, 2019, while the selling of shares must begin by June 1, 2020. A consortium made up of the Privredna banka Zagreb and Germany's DVB Bank are acting as the company’s privatisation advisors.




Comments

  1. I think people don't realise how dangerously close Croatia Airlines was to having the same scenario as JP.

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    Replies
    1. At least in Croatia the government saved their airline. Here in Slovenia they let 58 years go down the drain.

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    2. Actually they let JP go down the drain the moment they gave it for nothing to 4K.

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    3. As a Croat (and a Croatian taxpayer), I have to say that this move from the government was really stupid! Change the management! Since that (probably) won't happen, OU is probably next to go bankrupt. Unfortunately!

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    4. All ExYu airlines would go bankrupt the moment their governments stopped covering their losses.
      With no exception.

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    5. Same would be said about British Airways, Air France or Lufthansa some 30, 40 years ago. They profitted from that support so why shouldn't ours?

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    6. Because the 70's are over! And we are living in 2019.
      And because the practices of the 70's are over everybody can now travel by air, not only the well off.

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    7. "At least in Croatia the government saved their airline. Here in Slovenia they let 58 years go down the drain."

      They have possibly saved them. Malev was also "saved" by the government, until EC decided that this was illegal and it was ordered to repay every single Euro, after which it went bust the next day.

      58 years of loss making and taxpayer funds wasting, if you want to be precise about JP.

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    8. Anonymous 2 October 2019 at 09:59
      +1000

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    9. Happy taxpayer, if the 1970s are over then why are some western governments still protecting their own? Germany is blocking EK from expanding, their regulatory authority did not kill AB until LH Group was ready to react... so what you want is double standards.

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    10. Anonymous at 10:11
      EK is not a European airline but a UAE owned who does not play with the same rules as the Europeans do.
      Any European airline is free to fly in Germany and they do.
      AB died when EY stopped funding it.
      And LH is so protected that Eurowings, SN and OS are loss making and losing market share to LCCs.

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    11. Do some research before writing nonsense. AB died when the government authority shut them down, they were purposely ignoring them breaking the law.

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    12. ? actually they died when promised money didn't arrive
      at some point EY did a "strategy and performance review", decided to fire hogan and stop money outflow. there was even mention of some letter of assurance from EY to AB committing several hundred mil€ several months before the crash that didn't materialize. so the german prosecutor wanted to sue EY based on that. i didn't follow through did that went to court actually

      as for AZ, the money stopped flowing once the unions vote against restructuring plan

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    13. i more detail https://www.reuters.com/article/us-etihad-air-berlin/air-berlins-administrator-sues-etihad-for-up-to-2-billion-euros-idUSKBN1OD1IX

      it clearly states why the company died:
      ----------------------------------------------------------------------------------------------
      "Etihad Airways’ decision to withdraw funding for Air Berlin sent Germany’s then No.2 carrier into insolvency."
      ----------------------------------------------------------------------------------------------

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    14. https://gulfbusiness.com/air-berlins-administrator-sues-etihad-2-26bn/

      ----------------------------------------
      Etihad owned a 29 per cent stake in Air Berlin and had been providing funding since becoming a shareholder in early 2012. In April 2017, Etihad sent a letter of support to Air Berlin, saying it would continue to provide funding for the next 18 months.

      But just months later, Etihad said it would no longer provide funding, saying Air Berlin’s business had deteriorated at an unprecedented pace.

      The administrator said this doomed Air Berlin, whose assets have since been carved up and sold off.
      ----------------------------------------

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    15. Happy taxpayer is still living in 2010 when everybody was able to travel by air, not only the well off. In 2019 and beyond, climate emergency will enforce fees on those 10EUR LCC tickets and passengers will switch to trains or travel by air when really needed. His LCCs will be first to go.

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    16. @Anonymous2 October 2019 at 09:07

      I agree.

      @Anonymous2 October 2019 at 09:59

      Croatian airlines management must change, all of the need to be replaced and removed from the company, new management installed, one that has links in the industry, ideally someone with good experience and success in the industry. Current CEO of OU makes around €120 000 per year + bonuses, yet proved to be utter charlatan. We need someone who knows how to run an airline.

      What makes OU different case from Adria, its internal market, which although very small, only 4.2 million, must also include 22 million visitors that visit Croatia each year. Croatian Airlines will need to look at its business plan, new fleet is urgently needed, clearly the older aircraft require higher maintenance costs, i think OU should stop leasing 6 Q400 through Croatian go-between, Misetic former CEO of OU I think, who set up his own company and leased 6 Q400 through this company. This contract is highly damaging to OU, Croatian government should stop this asp, USKOK should take a look at this, clearly case of corruption and racketeering.

      OU should agree leasing 6-8 A220-100 from Airbus, with no middle man or go-between, all above the board. public tender who is cheapest and offers best solution, 10 year lease to own deal should be signed, same thing Baltic Air did for 30 A220-300. Q400 are getting old and they'll require constant support, OU still owns 3 old ATR-42 parked and conserved that is can't sell cause they're almost worthless.

      OU should use Government support for good, replace cronies and get things in order. Make sure airline can return to profitability. Sale of Heathrow slots was beyond damaging, also for little money. 5 morning pairs sold for $22 million is nothing, air France sold one morning pair for $75 million, clearly there was corruption involved here, USKOK should look in to this, inform British authorities of any issue so the criminal charges can be pressed. I the sale was illegal which I think it was, the slots will need to be returned back, and all involved in this corruption scandal brought on criminal charges.

      Beyond Heathrow scandal, OU should look in to expanding its network, add Dublin, Stockholm, Prague, Barcelona, Bucharest, Milan, Sofia, Lyon and Edinburgh on year round service. It seems Zagreb is flooded with tourists from these destinations, nearly 40 000 Bulgarians visit Zagreb each year. 33 000 Romanians, 47 000 Italians, 24 000 Irish, 44 000 British, and so on, Data for this year, first 7 months. Koreans, Americans, Chinese, Canadians, Australians and Japanese have even higher numbers, with over 101 000 Koreans visiting Zagreb so far, but OU doesn't fly there, lol.

      anyways

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    17. I honestly hope OU will go bust, there is no other way!

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    18. By the end AB was breaking the law because they were not liquid enough to retain their AOC. The German directorate ignored those rules because of politics and because they were waiting for LH to be ready to respond once they go bust.

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  2. I guess we won't see Croatia Airlines growing its route network and fleet any time soon.

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    Replies
    1. Well, they’ll be forced to grow the fleet once those NEOs start arriving. If they pay for them.

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    2. Did they start with the payments already?

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    3. Realistically, that order will be put on hold or cancelled, and newer planes leased. They don't have money to finance their day-to-day operations, so new planes are at this stage a pie in the sky. Their payment would lead to insolvency.

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    4. They have been paying for the planes for at least a year now. The BS recycled story about paying for engine overhaul is just a way to cover this up.

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    5. OU should have lased the aircraft with lease to own, however the deal was made, OU will pay €170 million for 4 aircraft, or around 1.25 billion kuna. Agreement has been signed, low interest loan will be sought from airbus, for the fiance for the 4 aircraft, OU already paid deposit for the aircraft in tune of €17 million back in 2012, after the deal was agreed, plan is to pay in 15 installments starting in 2018, with annual installments amounting to €10 million plus 1% interest. The final payment should be around 2032. However it would have been cheaper if OU leased the aircraft, however part of the deal is also OU will swap older Airbus Aircraft for brand new, reducing the amount OU needs to pay, by around €20 million in total.

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  3. When you have debt towards creditors it is never a good sign, as we have seen in the last few weeks.

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  4. Let's hope they manage to get privatised. I don't like their chances though.

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    Replies
    1. Would not be surprised if 4K Invest shows up with a new name and bids for OU :D

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    2. I don't think there is any interest in buying OU! Sadly, but true!

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    3. Well if anything, let's hope the Croatian government has learned from the mistakes of the Slovenian one.

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    4. I don't think they learned anything. Instead of changing the management, they don't know what to do with OU. Same goes for DBV airport where they extended the contract for Frano Luetić (who had to be retired by now) but is a member of HDZ.

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  5. Incompetent management should all be fired, all balkan airlines are a failure

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    Replies
    1. Aegean isn't.

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    2. Turkish too :D

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    3. Air Serbia three :).

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    4. Air Serbia wouldn't be a failure if it could cover its expenses with its revenues instead of getting subsidies.
      So only TK and A3 are successful Balkan airlines.

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    5. Anonymous at 09:46
      LOL!

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    6. TK is getting billions in subsidies oh and the new IST airport is already going bankrupt. So JU and BEG are in a much better position.

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    7. RO liked this post!

      Delete
    8. Well... Well... Well... The eternal question in this blog... Is turkey considered in Balkans????!!!

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    9. Anonymous at 10:14
      ΙST is in the Balkans but 97% of the country is in Asia.

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  6. And then people ask why Croatia Airlines has not reacted to Adria's collapse.

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    Replies
    1. +1 every penny must be saved at the moment.

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    2. You want one suggestion how "every penny" could be saved? By kicking out 200 or more excessive administrative stuff employed by party or relative line as a reward who sit in Buzin on positions non-existent in other airlines and invented for them, who do nothing and receive fat salaries. That's the way how to save not pennies but thousands and millions, and not by taking public money from croatian poor people to finance incapable aparatchiks

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    3. Yeaaaah but if you kick them out you lose political support or you get your mum's cousin angry for firing her daughter who is a hairdresser.

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  7. "Existing partnerships are vital", or translated to Croatian "We will continue to feed Lufthansa", continue to let the coast be served by others and continue protecting OU in ZAG by not letting LCC's there, as we are not capable of anything else. Bravo Plenkovic, bravo Hrvatska

    ReplyDelete
    Replies
    1. Well OU would have gon bankrupt long ago if they were not part of an alliance. Feeding LH is or any other carrier is vital, or how else do you thing would the 5 passengers flying to say VNO get to their destination without being connected to any partner?

      Delete
    2. 'Well OU would have gon bankrupt long ago if they were not part of an alliance.'

      I think an alliance wasn't as key as those government subsidies. How were they going to operate those flights if they couldn't pay their bills?

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    3. An. 09.15
      I fully agree with you, in theory. And of course it is better to be part of an alliance, no matter which one,, as it gives much more possibilities. The only problem, in praxis, and in real life is OU not being partner but feeder with humiliating role within its alliance, and with croatian coast, croatian immigrants on all continents, tourism from distant and close markets, whole Balkan "behind", all neighbours "down on the knees" till recently and functioning segments of economy together with EU and nato memberships, OU had all predispositions to become LOT or at least Air Baltic of Southeastern Europe. Unfortunately, thieves and criminals on one side and uninterested aparatchiks in quasi-management on the other side destroyed all possibilities of development and brought OU to position not far away of Adria Airways soon to be gone, while all of us cover expenses of their criminal actions or incapability. So sorry you don't see or don't want to see it.

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    4. "Will continue feeding LH" would only hold if OU were part of Oneworld or Skyteam and kept feeding LH. I am pretty sure that everyone would say how OU would be simply feeding Air France or KLM if they were part of skyteam.

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    5. Biggest issue with OU and being a member of star.... they don’t own their frequent flyers. This is how LH has OU by the balls and the only reason as times I feel for them.

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    6. Feel for them on the sense that maybe that can’t do as much in terms of network development as they may want.

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    7. "own their frequent flyers"- hahahaha that one is a good one- since when does a company own its customers?? Who owns you?

      But yes OU should insource its own frequent flyer programme and compete against the priviliges that the largest ones offer :D If Ou had the attitude of some of the commentators here, they would long be gone.

      Delete
  8. Good. At least we avoided another ex-Yu airline going bankrupt.

    ReplyDelete
    Replies
    1. Only temporarily. When they fail to sell the carrier in 2020, the EU will order the return of these payments and then it's gonna be JP all over again.

      Delete
  9. The current situation of OU and many other Euro carriers is in jeopardy.
    Never has the world seen so many airline bankrupcies compared to 2019.
    OU must utilise the money to the last eurocent and try to get back to growth.
    They might consider BoB, avoid using airbridges, etc.
    Something like the current JU lowcost model.

    ReplyDelete
    Replies
    1. JU uses air bridges, has lounges, on board internet, complimentary snacks (like OU)... Wouldn't call their model exactly low cost.

      Delete
    2. JU product is the same LO has, it's some sort of a hybrid one.

      Unlike JU and LO, OU doesn't have a strategy and they are merely...existing.

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    3. But OU has an extremely developed domestic network combined with state of the art airports nationwide....

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    4. At BEG all airlines use jet bridges, including low cost ones. As long as they use jets. Most bus or walk based flights are those operated by turboprops.

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    5. I wasn't referring to BEG, I was referring to use of jet bridges across airports they fly to Europe-wide.

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  10. The minister is kind of wrong, the OU doesn't play a vital role in Croatian tourism, it plays a declining role.

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    Replies
    1. Really? Tell us why?

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    2. Exactly! How come that Austrian can charge big rates and make money on daily flights from Viena to 3 Croatian coastal airports 7 months a year, and Croatian flag carrier cannot?

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    3. Because austrian airlines makes money with passnegers that connect to many other destinations. Would the simply rely on VIE-SPU they would fly the Dash. And they have a lot o p2p passengers because they are based in Vienna, you know that city that is one of the largest in Europe and attracts many p2p pax. OU also makes money on those routes in summer, Austrian stops flying whereas OU does not in winter.

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    4. Or even simpler - Croatia Airlines transports one million passengers from the coast, other companies 8 million. Enough or you want more?

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    5. And as far as I know, OU does not fly from coast to VIE in winter as well, so nice try, but....

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    6. Well OU flies from the coast when there is demand from FOREIGNERS. Austrian flies in Winter to Marocco, Palma, the Canary Islands etc. I am pretty sure if you would book your holidays "pozdrav iz Rijeke" as Austrians or Germans do, OU would be making money transporting Croatians to the Canary Isands or whereever, see JU in summer. But then you would have to spend on average 3500€ on holidays as the average Austrian or German does.

      So yes OU could try to open bases in London or Vienna and fly the locals to some destinations. Croatians won´t, and foeigners don´t come to Croatia in winter, when OU could need them. Here Thai or Emirates profit in winter, where OU profits in summer.

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    7. Wrong again. This January I was 3 weeks in New Zealand and Bali and spent more than avarege German or Austrian spends. And there are hundreds of thousands of us in Croatia who use the services of others because OU don't give us opportunity to use its services. And they will continue to behave like that as long as they have narrow minded people advocating their incapability and incompetence, often even criminal actions.

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    8. And can you explain me how exactly "OU profits" in any way when you and me have just paid, once again, for their losses?

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    9. You probably have to add, that you pay for the losses that OU incurrs in WINTER! Make them dissapear in winter and you would have no losses, but also no connections. WHY?

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    10. No, I pay for the losses OU makes during the year. If at the end we have to pay their bills, I don't care if they made them in summer or winter. But you are concentrating on the consequences, not the reasons WHY they make losses. That's the difference between your and my "approach"

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  11. Good I support this.

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  12. Can they renegotiate the neo order? That must be a singificant financial burden.

    ReplyDelete
    Replies
    1. maybe to downsize the order from 4 to 2 or 1

      ex-yu companies do not have money for new airplanes. best they can do are 10+y old planes

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    2. @Petar: Correction: ex-yu companies do not have money for new airplanes, BECAUSE THEIR CITIZENS AND COMPANIES DON´T HAVE MONEY PAYING TICKETS FOR so the best they can do are 10+y old planes

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  13. In the end all these airlines will be swallowed up by Eurowings.

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    Replies
    1. That's what people said about JP and LJU yet only SN rushed in to launch flights and only because they are subsidised.

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    2. Not sure about Air Serbia, but others will definitely go bankrupt.

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    3. "yet only SN rushed in to launch flights"

      It's been what, 2 days since JP went bankrupt? Schedules in serious airlines are made 6-12 months in advance and normally profitable airlines tend not to have aircraft parked year-round, just if some random airline goes bust and they can step in.

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    4. So I guess Air Serbia, Transavia, Air France and LOT are not serious airlines since they made arrangements in advance...unlike LH.

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    5. Exacty, JU flew 5 rotations with larger aircraft that is about it. What exactly did the others do?

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    6. Serious airlines make preparations when their partner/competitor is about to die. LH Group left its passengers stranded at various airports because they were unprepared.

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  14. What sucks is that they are wasting taxpayer money for what? To get more of the same?

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    Replies
    1. That's my opinion to. If I was confident this money would produce some real changes at OU I would support it. But in 5 years we will be in exactly the same position.

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  15. Excuse me but what happened with OU's last restructuring process?? It lasted several years, they were not allowed to grow or get aircraft. Was it all for nothing if just a few years later they have to be bailed out again?

    ReplyDelete
    Replies
    1. It obviously wasn't done right. There were no changes to the airline's financial structure. During restructuring the only thing that was done was the sale of several assets to show a fake profit and prove how restructuring was going great.

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    2. It was successful, they made adjustment in order to receive additional funds from goverment :)
      And they had very good consultant who found out that they paid excess tax :))

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  16. Regional Balkan airlines CANNOT survive without government subsidies. It is NOT a coincidence Adria gets sold and it goes bankrupt. Therefore Croatia Airlines WILL NEVER suffer the faith of Adria, every Croatian Government will inject money, and all normal Croatia taxpayers will not be against these actions since OU serves the Croatian population year round. Other EU airlines such as Alitalia, Air France found EU LOOPHOLES to subsidies their national carriers when they were in trouble, and Croatia Airlines will use the same loop holes :-) I know this won't be good news to the OU haters, but we don't really mind. Adria's demise only sharpened the resolve to never suffer the same faith as Adria. Its a SMALL amount to pay to have a National Carrier. I feel bad for Adria, it should have never been sold.....

    ReplyDelete
    Replies
    1. While I agree with you somewhat, at one point the EU will stop turning a blind eye. See what the EU did with Malev, Cyprus Airways...

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    2. What loopholes does OU have at its disposal? Or are you just talking out of your ***?

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    3. First, don't tell me I am not normal. Second don't call me OU hater, as I was the one who was founding it 30 years ago. Only one who hates OU and whose logic is not normal is you who accept humiliating position of OU as something good.

      Delete
    4. I agree with Anon 9:30. Croatia is not as strong as France or Italy and EU doesn't treat us the same way. OU is a very small company and pretty much vulnerable. The only thing that worries me (since I live in Dubrovnik) are domestic routes in case OU goes bust.

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    5. It's not about subsidies, it's about what you get in return! Many attack Serbia for giving money to JU but at least JU is growing and expanding helping the Serbian economy become much more competitive. Same with AF and AZ. AZ might be a mess but they are useful to the Italian economy. What benefit does Croatia have from OU? Those with the biggest interest are the guys working in LH who get transfer passengers for next to nothing.

      So OU has to justify those subsidies, not get them so that it can prolongue the rotting process.

      Delete
    6. Na koji nacin AZ doprinsi italijanskoj ekonomiji? Prave ogromne gubitke godinama. Turiste uglavnom sada dovoze LCC u Italiju. Slicno je i sa OU i sa JU. I sa LH koji crpe pare iz Nemacke. Grckoj su oduzeli aerodrome dok exYu rasproda ih u bescenje.

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    7. I would put a big question mark to JU helping the Serbian economy becoming much more competitive

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    8. Look at AZ network and you will see the way they contribute. Also how many destinations would be cut tomorrow if JU would go bankrupt? Who would operate TIA, SKG, SKP, KRR, LED, KBP, CAI, BEY, VCE, NCE, BRU...

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    9. JU is helping rich Westerners in saving money. FRA-SKG/ATH/LCA in summer on JU is way cheaper sometimes than the direct Ryanair flights. So I guess if JU ceased to exist, we would lose many of those destinations that are exploited because of BEG´s geographical position such as Western EU to Greece or LCA or TLV. JU is mostly the cheapest option between Western Europe and Isreal.

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    10. Anon 10.49

      Of course you provide us with no concrete numbers or facts. Do you mind sharing with us some numbers and proof that JU is the cheapest?

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    11. Go to Ryanair.com and look up fares for next week and go to Air Serbia and look for the same FRA-ATH prices.

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    12. JU ATH-FRA one way:

      Monday: 23.498
      Tuesday: 20.610
      Wednesday: 16.908
      Thursday: 14.308

      How exactly are these dumping? Cheapest one way fare without luggage is €121.

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  17. What everyone seems to be forgetting is that this aid is still against EU rules. They're betting on justifying it by selling the company in 2020. When this sale fails like every time, it's going to come back like a boomerang.

    ReplyDelete
    Replies
    1. People neglecting that this was move out of desperation buying time until something, maybe, eventually, happens.
      But now EU has upper hand, so whatever discussion Croatia have with EU on different subjects (not related to air traffic) they can pull out OU file and say - what about this? If they are not satisfied with something they can just say that this was illegal and force them to return back the money...

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  18. Good luck OU. Use that money wisely.

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    Replies
    1. They already said what they will do
      "repair and overhaul of two aircraft engines, pay its debt to Croatian suppliers and finance other necessary investments"

      Delete
  19. Are there any chances of OU launching long-haul?
    Also how about returning back to LHR?
    Almost all Eastern European carriers fly to Heathrow...

    ReplyDelete
    Replies
    1. Well, they fly to Heathrow, they sold 5 slots out of 9 (I think).

      Delete
  20. Sorry, but this is a complete waste of money. They will burn it all once more and end up in troubles again in no time. It’s pointless for the state to support an airline without a clear vision and strategy, which doesn’t expend nor does it use all of it’s current potential (given Croatia’s location/tourist demand) just so it could exist. The point of business is to make money, and not prestige. I would even go as far to say that the only airline in exyu with a vision is Air Serbia - and even they are far from being actually profitable, and are supported by their government. Things will only get worse for this kind of ‘leech’ airlines, soon they will all get bust no matter how much they cry for help and subsidizes over and over again instead of getting their * together.

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  21. One of the main reasons of OU failure is long time pretending of Zagreb being some kind of a hub. Unlike other similar size countries Ireland and Denmark where most of the traffic goes through one airport (Dublin 94%, Copenhagen 78%), there is only 30% of Croatian traffic through Zagreb and the rest 70% is on the coast. They have not been able to realise (or not wanting to realise) these specifics of the country where the only real economy is tourism and instead of adjusting to it and take as much as possible from it, they continued with this completely wrong philosophy.

    ReplyDelete
    Replies
    1. Unfortunately, that's the way it is. they have missed every trend

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    2. There was talk a few years back that only Split and Dubrovnik would retain international airport status so all the other airports would have to be accessed via Zagreb.... thanks EU happened.

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    3. *edit.... then the EU happened

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  22. Svi komentari su ocajni, populisticki, kratkovidni. Ako nitko ovdje nije procitao koncesijski ugovor MZLZ ne znam sto radite na ovom portalu. Drzava je OU koncesijeskim ugovorom vezala za MZLZ, zato OU iz Skandinavije leti za ZAG, ne za obalu. Jeftinije je sada dati injekciju OU, nego platiti penale MZLZ. Zauzvrat, za takav sramotni uteg OU ( jer vecinu operacija na obali prepusta konkurenciji) nije dobila nista na MZLZ. Nisu cak niti napravili business lounge za domace putnike. Kakva god uprava OU sada bila, za ovo je kriv Hajdas Doncic. Prije blebetanja, malo prouciti stivo, stranice 50-70. https://www.hrt.hr/fileadmin/video/Ugovor_o_koncesiji_za_izgradnju_i_upravljanje_Zracnom_lukom_Zagreb_izmedu_Republike_Hrvatske_i_Medunarodne_zracne_luke_Zagreb_d.d._9-12_13.pdf

    ReplyDelete
    Replies
    1. Koliko vidim u ugovoru se obrađuju potencijalni slučajevi stečaja CA i smanjenje broja letova CA na MZLZ.
      Ne zabranjuje im se da otvaraju nove letove na novim aerodromima.

      Delete
    2. A sa cime se to moze otvoriti kada ne mozes smanjiti ZAG? Ajde mi to objasni. Sa cime da otvoris recimo TIA? Jedan Q400 ide na nocenje u SKP, SJJ, ZAD-PUY i dva koja rano u jutro krecu za BRU, MUC i CPH. Najjaca mi je baza kada su veleuvazenom Purgeru dali da slaze operativni plan pa su avioni cucali po 8h u FRA zbog njegovih cuvenih valova. Da li se svi stovatelji lika i djela tog strucnjaka sjecaju njegovo zagovaranje prodaje OU fondu 4K?

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  23. After Adria is gone, Lufti can now turn to OU as the next one to go.

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  24. Sorry, but as much as you would like to see OU fail like Adria, ain't gonna happen!

    The left or right politicians in Croatia will never let it fail, proof is this injection today, its plain and simple a Croatian "thing".

    YES, Croatian Airlines is mismanaged at the moment, but its an intrinsic part of the Croatian DNA!

    Forged our of our War of Independence, it was the lifeline from 91-95 when NO airline wanted to fly to Croatia, so its nothing like Adria.... you can now reply all the comments you wish, won't change these fundamental facts!

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    Replies
    1. Just watch!

      LOOOL

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    2. By all indicators, JU right now, with full non-consolidates expansion of new routes, rising fuel prices and a looming economic crisis is much more exposed to large loses then other airlines.....

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    3. Anon 16:00 - keep dreaming, but you won't see OU's demise, sorry for you.

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    4. 'Croatian Airlines ... an intrinsic part of the Croatian DNA'

      How did Croatians have DNA before OU was created? What kind of fake science is this?

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    5. 1000 years in the making

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    6. 'politicians in Croatia will never let it fail, proof is this injection today'

      What will happen if Lufthansa or some other airline complains to European Commission about this financial injection as against EU rules?

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    7. OU is not mismanaged "at the moment", it has been mismanaged from the first day. That's one. Two, Aeroflot started flying to ZAG in spring 1992, Swiss and Air France followed shortly after almost all major airlines were back in ZAG in 1993. Three, utter chauvinist DNA statement with its stupidity does not deserve any comment at all. That much from me.

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    8. It is really refreshing seeing there are still normal people out there who know what was happening in the past and that there "was only one kind of yogurt in Yugoslavia".

      Thank you for it "pozdrav iz Rijeke"

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    9. pozdrav iz Rijeka - here you go with your typical demagogy....do you make it a point to irritate people? we all know that OU wasn't the ONLY airline to fly to Croatia, rather the argument was that OU linked Split and heroic Dubrovnik as a lifeline to Zagreb.... did Aeroflot, Swiss and Air France fly to the Croatian South from Europe during the war?
      Answer: No (with some minor exception). So crack open a history book before you irritate us, thx!

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    10. ^ bruh get back on your meds.

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    11. You wrote, I quote : "NO airline wanted to fly to Croatia". When I beat you with the facts then you changed your story with no airline wanted to fly to the South of Croatia. And you dare telling me something about my "demagogy". And with you in question I am glad I irritated you because you deserve it. Btw I WAS OU CREW on flights to SPU and DBV in 1991, 1992 and several years later and I don't need history books as I LIVED history you talk about. And as such a big DNA Croat maybe you should learn it's not "pozdrav iz Rijeka", it is "pozdrav iz Rijeke". Bok!

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  25. So actually if Government of Croatia does not sell OU until the end of 2020 Croatia Airlines will have to pay all that money back due to EU rules.

    Taking in consideration how successful were all previous attempts OU to be sold we could very possibly see Croatia Airlines going next year through the same procedure Adria is going now.

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    Replies
    1. Its all good, don't work yourself up in a frenzy, EU won't sanction Croatia to retract the subsidy. Croatia will argue that: "OU is a vital company and we must aid them in time of need" and the EU will turn a blind eye like with other Airline rescue subsidies (Alitalia, Air France etc.). Sleep tight, all is well, the red, white and blue checkered aircraft will taxi all over major European airports for a long time to come feeding LH like a little brother from another mother!

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    2. You mean EU will turn the same blind eye as they did it with Malev, Cyprus Airways, Estonian Air etc... For all these countries their air carriers were vital. And their size was similar to OU size.
      EU allows only giants to survive. OU does not belong to that group

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    3. OU will fly under the radar, BUT even if it OU fails, another Airline will be founded quickly and become a National Carrier like Olympic Airways / Aegean situation...Croatia is bullet proofed to always have a National airline, 12million air passengers and counting in Croatia vs distant second place Serbia with 6 million!! double Serbia’s potential.

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    4. Some people claim they can see the future and how the new flag carier airline will be created if OU fails. Those people used to be called Fortune tellers, but now it seems they call themseves online Aviation Experts/Analysts.

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    5. some people take the liberty in labelling others as a sole argument when confronted with solid facts, Croatia is an Air passenger powehouse in the Balkans, there’s no close second in ex-yu, 12 million this year, facts are facts wheather you can overcome your jealousy or not ;-)

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    6. Projection for 2019 is 11 millions ...hold on your horses bro...

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    7. will take 11 million all day loooong! Bravo Hrvatska!

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    8. Which country of exyu has so long coast as Croatia has?

      And we see positive results only for SPU, DBV, ZAD etc. Continental airports like ZAG and OSI are doing horribly.

      There you have it

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    9. Croatia might one day have 20 or 30 million passengers. Problem is that OU will continue to have decreasing percentage of those passengers until OU gets in a similar hole as Adria. That decreasing trend exist for a while now and doesn't take fortune teller to see it. That is a fact.

      'OU will fly under the radar' of EC; 'if OU fails, another Airline will be founded in the future' and 'Croatia is bullet proofed to always have a National airline' are NOT facts; they are signs of delusion. And that's a mild label.

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    10. anon 14:01, you are so green of envy of Croatia beeing an air passenger powerhouse in ex-yu that you should seek help, please!!!

      Delete
    11. Unable to stick to arguments when losing, are you?

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  26. OU gets a recapitalization, JP pilots and flight attendants get the dole. :-(

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  27. "The state last recapitalised Croatia Airlines in 2013 with 106 million euros, barring it from providing further aid until 2023 under European Union regulation. It is believed the government has found a way around this by claiming the Croatian carrier paid excess tax since its last restructuring process and is now being compensated for it."

    Estonian Air type of scenario is coming. https://en.wikipedia.org/wiki/Estonian_Air#Cessation_of_operations

    ReplyDelete

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