Croatia Airlines sees weaker annual performance
Croatia Airlines saw its losses widen and passenger numbers slightly decline during the first three quarters of 2019. The company recorded a net loss of 6.5 million euros during the nine-month period, up from its loss of 4.6 million euros over the same period last year. In the third quarter alone, traditionally its strongest, the airline’s net profit amounted to 5.5 million euros, which is weaker than the 6.1-million-euro profit achieved last year. “Despite registering a profit in the second and third quarters, we were unable to cover the losses generated over the winter months”, the carrier said. During the first nine months, revenue increased 1.4% to 177 million euros, while expenditure was up 1.3% totalling 181.8 million euros. The airline spent most on flight operations, followed by air transport services and maintenance.
The national carrier handled 1.701.571 passengers on board its aircraft during the January - September period, a decline of 0.2%. Of those, 397.308 travellers were carried on domestic flights, down 3.7%, while 1.242.081 passengers flew on international services, an improvement of 1.5%. The remaining 62.182 passengers were carried on charter flights, down 11% year-on-year. However, charters accounted for less than 4% of overall traffic. The airline noted the decline in travellers on charter operations was mostly a result of less traffic, since the carrier ran a number of special flights to Russia last summer for the FIFA World Cup football championships.
The airline operated 22.235 flights during the first three quarters of the year, which was up 2% compared to the same period in 2018. The average cabin load factor stood at 73.8%, an improvement of 0.1 point. Loads were lighter on domestic flights by 3.4 points for an average of 69%, while on international services they were up 0.1 point to 74%. Passenger carrying capacity, measured in Available Seat Kilometres (ASKs), stood at 1.8 billion, down 0.1% year-on-year. The airline’s cargo operations were weaker by 10.1%, with 1.5 tonnes of mail and freight uplifted in the first three quarters of 2019, compared to 1.7 the year before. The number of employees at the company stayed mostly unchanged at 1.019.
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