Major Losses for Croatia Airlines

Published: February 16, 2013; 17:02 · (Vindobona)

The publicly owned national carrier will introduce restructuring measures, the management announced.

Major Losses for Croatia Airlines / Picture: © Flickr

Due to major write-downs of the fleet, Croatia Airlines has recorded a net loss of € 63m last year. Compared to 2011, this is an increase by more than € 53m. In total, write-downs came at € 36m. As a result, Croatia Airlines also recorded operating losses. At least, the carrier could register a stable turnover. Compared to 2011, the number of passengers was up by 4% to 1.9 million. In order to become more profitable, the management of Croatia Airlines wants to cut its workforce by 20%. The employees did not accept the management´s proposal yet.