Flag carrier Croatia Airlines reported a 97.7 million kuna (€13 million) in the period from January to September 2022, which they said was a 41.4 percent reduced loss from the same period of 2021, when the company posted a 166.7 million kuna (€22.1 million), the state-owned airline said on Friday.

Their total revenue in Q1-Q3 2022 was close to 1.31 billion (€174 million), double from 646 million kuna (€85.8 million) in the same period of 2021. Total expenses also increased significantly, by 73 percent year-on-year, to 1.4 billion kuna (€186 million).

From January to September 2022 Croatia Airlines transported 1,087,997 passengers, almost double from Q1-Q3 2021, with total sales in the same period were two and a half times higher, “which confirms that demand for air transport services has continued to increase in the wake of the largest crisis in the history of civil aviation caused by the coronavirus pandemic,” the company said.

The Q3 2022 business results are the first positive quarterly results since the start of the pandemic, with operating profits amounting to 99.8 million kuna (€13.2 million) and net profit totaling 65.1 million kuna (€8.6 million), the company said.

(€1 = 7.53 kuna)