Croatia Airlines losses swell

Passengers stable- finances trembling

Croatia Airlines has seen its losses soar. On Wednesday the airline reported that it ended the first 9 months of the year with a net loss of 94.2 million Kunas or 12.88 million Euros. During the same period last year, the airline reported losses of 22.2 million Kunas or 3 million Euros. Croatia Airlines’ operating earnings also fell by 18%. This is despite Croatia Airlines’ cost cutting measures, which were introduced earlier in the year. The Croatian national carrier has, unlike most European carriers, managed to keep its passenger numbers stable in spite of the global financial crisis. However, this did little to save the airline’s finances.

The other 2 main airlines in the region, Adria and Jat also reported losses with the latters amounting to 11 million Euros for the first 9 months while Adria has reported some improvement with its figures.

Despite the grim news, Croatia Airlines has announced that it will prolong its seasonal Split to London service until the end of November. After the winter break, the service will recommence in March.