Net loss posted by the national flag carrier Croatia Airlines in the first three months of 2018 was 84.5 million kuna (€11.4 million), significantly down from the same period the year before, when it had recorded a 9.05 million kuna (€1.2 million) net profit, the company's financial report released on Friday said.

However, the comparably good results in Q1 2017 was thanks to the sale of some of its landing slots for Heathrow Airport, in a one-off sale which earned the company 106.6 million kuna (€14.3 million), the report said. Excluding the income from the sale of slots, the operating loss in the first quarter of 2018 was actually reduced by 13 percent compared to the same quarter in 2017.

Total quarterly operating revenue was 257 million kuna (€34.6 million), or 2 percent up from Q1 2017. Revenue from passenger transport was 221.4 million kuna, or 13 percent up, with an increase in total passengers by 8 percent, to 354,000. Cargo revenue fell by 5 percent in the same period, to 2.5 million kuna.

Passenger numbers increased by 12 percent on domestic routes, to 92,000, and by 6 percent on international routes served by the state-owned airline, to nearly 260,000.

The company, based in Buzin near Zagreb, has more than 900 employees and operates a fleet consisting of four Airbus A319s, two Airbus A320s and six Bombardier Q400. It has been a member of the global Star Alliance airlines group since 2004.

(€1 = 7.42 kuna)

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