Croatia Airlines to cover losses from future profit
NEWS FLASH
Croatia Airlines has adopted a decision to finance the 47.3-million-euro loss generated in 2020 from future profits. “The year 2020 was marked by significant changes to the business environment which had an enormous impact on the company’s finances. The crisis caused by the coronavirus has drastically slashed demand for air travel, which, in line with travel restrictions, resulted in a decrease in capacity, a drastic reduction in planned flights, as well as the termination of existing or planned new services”, Croatia Airlines said. Croatia Airlines saw its losses narrow to 12.9 million euros during the first quarter of this year, down from 14.6 million over the same period in 2020. The figure is also an improvement on the pre-pandemic 2019, when it registered a 13.3-million-euro loss during the first quarter.
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