Croatia Airlines begins work on “Post Covid Strategy” document
Croatia Airlines has said it is drafting plans for its business in the aftermath of the coronavirus pandemic, which has devastated the aviation industry. In a statement, the Croatian carrier said, “Croatia Airlines would like to inform the corporate public that it has begun work on a ‘Post Covid Strategy’. We are exploring the market for potential expert advisors who can work alongside in the drafting and implementation of the Post Covid Strategy. We will inform the public in due course of all future steps that will be undertaken”. Last year, Croatia Airlines registered its biggest financial loss in eight years, while carrying the fewest passengers in over 25 years as the aviation industry was obliterated by the pandemic. The company also received 11.7 million euros in direct state aid and 33.2 million euros as an equity loan by the government. It was also recapitalised by the state with a 46.2 million euro cash injection.
Croatia Airlines is expected to remain state-owned for at least another two years. Prior to the coronavirus pandemic the Croatian government set a deadline to privatise the carrier by June 2020. Last month, the company noted, “The privatisation process was halted at the onset of the Covid-19 crisis. This has been done due to unfavourable circumstances and force majeure. Given IATA projections for the aviation industry and the uncertainty surrounding the duration of the corona crisis, it is unlikely this process will be resumed before 2023. Croatia Airlines, as Croatia’s national carrier, represents a strategic part of Croatia’s transport infrastructure, and its importance has been amplified during the ongoing crisis because the company has contributed in maintaining the country’s connectivity”.
Croatia Airlines is rebuilding its network and will restore several routes next month. The carrier will increase frequencies out of Zagreb to key cities in Western Europe from mid-May with Frankfurt and Amsterdam to have the most weekly rotations with at least one flight per day. The airline will restore seasonal operations from Split to London, Vienna and Zurich towards the end of next month, as well as services from Dubrovnik to Frankfurt. Based on its existing schedule for May, which is subject to change, the carrier plans to operate a total of 1.095 commercial flight operations and offer 96.842 seats on sale. This represents a 24% increase in frequencies compared to April and a 28% increase in capacity.
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