The Croatian Star Alliance member Croatia Airlines flew a loss of 18,2 million euros last year. Compared to 2021, there were significantly more passengers on board, but it was in the red for the fifth time in a row.
The carrier carried a total of 2022 passengers in 1.453.224. Despite the fact that it was possible to increase significantly compared to 2021, this was not enough to achieve the turnaround. On the contrary: In a direct comparison with 2019, in which there was a net loss of 10,7 million euros, the company slipped even further into the red.
The Croatia management justifies this as follows: "The results in 2022 were primarily affected by the increase in fuel prices and the overall negative impact of the increase on other financial parameters". Sales are said to have been around 17 percent below the level before the corona pandemic. However, the costs are said to have skyrocketed by around 53 percent.
The company criticizes that, in addition to the kerosene costs, the fees for services at airports and air traffic control are said to have increased significantly. Last year, Croatia Airlines received a government grant of 33,7 million euros. Furthermore, the government granted a so-called shareholder loan of a further 12,5 million euros. This increased the level of debt to the state to 78,8 million euros. In addition, the company owes three million euros to two Croatian banks. The airline emphasizes that it is able to meet all obligations resulting from the loans on time.