Croatia Airlines reports a net loss of nine million euros for the first nine months of 2024, while revenues stagnate at the previous year's level at 206,1 million euros.
A major reason for the losses is the high costs of switching to Airbus A220 aircraft, combined with inflationary pressure and increased operating costs. Total expenditure increased by 9% to EUR 215,1 million. Maintenance costs in particular rose to EUR 33,9 million, mainly due to the parallel use of two aircraft types. The airline also took out additional leasing contracts to ensure fleet availability, which further increased costs.
Despite the financial losses, passenger numbers increased by 5,5% to around 1,42 million passengers compared to the previous year. Croatia Airlines expects that the ongoing fleet renewal will lead to a reduction in operating costs in the medium term and improve profitability once the A220 aircraft are fully operational.