Croatia Airlines Posts a Loss in First Quarter

Total Croatia News

ZAGREB, April 27, 2018 – Croatia Airlines generated a net loss of 84.5 million kuna in the first quarter of 2018, compared to 9.05 million kuna at the same time in 2017, mostly due to the partial sale of slots at London’s Heathrow Airport, the national flag carrier said in a financial statement on Friday.

Excluding that one-off item of 106.6 million kuna, the loss in the first quarter was 13% lower than last year.

Operating revenue rose by 2% to 257 million kuna. Revenue from passenger transport increased by 13% to 221.4 million kuna as the number of passengers rose by 8%. Revenue from freight transport dropped by 5%. Other revenues, excluding revenue from the sale of airport slots, fell by 36% to 33.05 million kuna.

Croatia Airlines operated 5,089 flights, with the number of passengers reaching 354,000, an increase of 8% compared with the first quarter of 2017.

The company noted that for the first time in its history, the passenger load factor (PLF) in the winter season was 70.6% and the weight load factor (WLF) was 67.6%, an increase of 5.8 percentage points.

In the first quarter of the year, Croatia Airlines had a fleet of 12 aircraft: six Airbuses, of which one Airbus A320 was on lease, and six Q400 aircraft. Like last year, the company will lease two more aircraft with a 100-seat capacity for the upcoming tourist season.


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