Pragusa.One buys small stake in Croatia Airlines

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Croatian start-up carrier Pragusa.One, which plans to commence long haul flights from Dubrovnik and Prague using Airbus A350 aircraft, has become a minor stakeholder in Croatia Airlines. The company has purchased 3.682 shares in the flag carrier, or a 0.04% stake. Croatia Airlines’ largest shareholder is the Government of Croatia, with a 97.7% stake, while the remainder is mostly owned by state-owned or public companies such as the Croatian Postal Bank, oil transportation company JANAF and the former state operator of Zagreb Airport. The Croatian Minister for Sea, Transport and Infrastructure, Oleg Butković, recently said the airline will have to undergo restructuring after which a fresh attempt will be made at privatising the company once the effects of the coronavirus pandemic subside. Pragusa.One is now the sixth-largest shareholder in Croatia Airlines.

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