Croatia Airlines plans fleet renewal and network optimisation
Croatia Airlines’ Supervisory Board has adopted a post-Covid strategy drafted in cooperation with the Boston Consulting Group (BCG) over the past few months. The strategy, which will be implemented over a three-year period, says the company needs to improve its efficiency and competitiveness as it faces key operational and structural challenges that include fleet renewal and the optimisation of its year-round route network. "Taking into account visible trends on the highly competitive Croatian aviation market, fuel prices and CO2 emissions, as well as the goals set through 'green' EU policies, the defined strategic initiatives have no alternative, and their implementation will utilise the opportunities which will be available over the next two years as air traffic recovers", Croatia Airlines said in a statement.
The Croatian flag carrier did not go into detail over the contents of its post-Covid strategy but said it would further digitalise its business by switching to a new SAP system (Systems Applications and Products), a widely used enterprise resource planning software, as well as study and analyse data in more detail, improve management skills at all managerial levels, increase productivity, focus on quality, entrepreneurship, cost awareness and innovation. “With the adoption of the post-Covid strategy, Croatia Airlines will enter a new development cycle that will include a real transformation of its current mode of operations, which will run over the next there years. It is estimated to take this long to implement the most important strategic initiatives”, Croatia Airlines said.
The Croatian carrier will now forward its post-Covid strategy to the Croatian Ministry for Sea, Transport and Infrastructure for approval. “We will inform the public of all upcoming steps in due course”, the company noted. Croatia Airlines recorded a net loss of 19.6 million euros during the first half of the year and has warned its business could be further impacted by the spread of new variants of Covid-19. The airline’s financial performance is an improvement on last year’s loss of 23 million euros but still behind its 2019 half-yearly result which amounted to a 12.1 million euro loss.
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