Croatia Airlines posts 167m kuna loss for January-September period

NEWS 29.10.202117:56
Marko Prpic / PIXSELL / Ilustracija

Croatia Airlines generated a net loss of 167 million kuna in the first nine months of 2021, reducing its loss by 76.6 million kuna or 31% compared with the same period in 2020, the national flag carrier said in a financial statement on Friday.

Although the company’s financial performance was considerably affected by the coronavirus pandemic, it managed to generate a higher operating revenue than in the corresponding period of last year, due to an increase in passenger revenue and other business revenues.

In the first nine months of 2021, operating revenue was 611.5 million kuna, an increase of 13% over the same period of 2020. Passenger revenue increased by 44.4 million kuna or 11% to 437.5 million kuna, as a result of increased demand in the summer season. Other revenue rose by 16% to 168 million kuna, while freight transport revenue fell by 1% to 6 million kuna.

Operating expenses totalled 758.5 million kuna, down by 1% compared with the first nine months of 2020.

In the period from January to September 2021, Croatia Airlines operated 11,728 flights (+11%), carrying 556,499 passengers (+4%). The number of passengers carried on scheduled domestic flights increased by 18% to 168,518, while the number of those carried on scheduled international flights fell by 3% to 373,242. A total of 14,700 passengers were transported on charter flights, one and a half times more than at the same time last year. The passenger load factor was 50.7%, the same as in 2020.

(€1 = HRK 7.5)