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Croatia Airlines Profitable for First Time in 5 Years

croatia_airlines (3)Croatia’s national carrier Croatia Airlines, which the government recently issued a tender for interest in its sale, have for the first time in five years recorded positive business results.

According to a report published today on the Zagreb Stock Exchange, Croatia Airlines, in the first nine months of this year, achieved net profit of 20.3 million kuna (2.7 million EUR). In the same period last year the company recorded a net loss of 10 million kuna (1.3 million EUR), which makes the total positive shift of 30.2 million kuna (4 million EUR). Total revenues of the company in the first nine months of this year amounted to 1.22 billion kuna (160 Million EUR).

Passenger revenues, compared to 2012, were down 8 percent as a result of restructuring measures and pilot and cabin crew strikes in May. At the same time the number of passengers in the period decreased by 7 percent compared to the same period last year.

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