The national carrier Croatia Airlines recorded an operating loss of HRK 90.2 million in the first quarter of 2019, while the total loss in that period amounted to HRK 98.6 million, the airline reported on Tuesday.

The company explained that the loss was expected considering the marked seasonality of business, adding that the poorer net result compared to 2018 was partly due to a significant increase in depreciation costs of HRK 26.5 million caused by the change of International Financial Reporting Standards and the implementation of IFRS 16.

The company noted that EBITDA was HRK 16.6 million higher than at the same time last year.

In the first quarter of the year, 345,800 passengers travelled with Croatia Airlines, which is 2.4% fewer year-on-year. The decrease in the number of passengers is explained by the Easter holidays falling later this year and due to a greater demand for flights in January last year because of the European Handball Championship which was held in Croatia.

In 2018, CA recorded an operating loss of HRK 76.5 million and a total loss of HRK 82.9 million.

That was a 37% or HRK 48.3 million better result than was generated in 2017, the airline said.

(EUR 1 = HRK 7.41)