Croatia Airlines reports profit for the third consecutive year, this time with 14 million kuna

Net profit increased by 83 percent last year, reaching 13.8 million kuna compared to the results achieved in 2014, the company announced, citing the systematic implementation of the restructuring program successfully completed as the reason for the positive business trend.

The Croatian national carrier Croatia Airlines achieved a net profit of 13.8 million kuna last year, marking positive business for the third consecutive year, it was confirmed on Monday by the company. Net profit increased by 83 percent last year, reaching 13.8 million kuna compared to the results achieved in 2014, the company announced, citing the systematic implementation of the restructuring program successfully completed as the reason for the positive business trend.

Operating profit increased by 22 percent, reaching 16.7 million kuna and was 35 percent higher than planned. For comparison, net profit in 2014 was 7.5 million kuna, while operating profit was 13.7 million kuna.

Last year, Croatia Airlines transported 1.85 million passengers, which is one percent more than the previous year, and the company flew to 31 destinations in domestic and international traffic.

Among the events that marked the past year, Croatia Airlines highlights the signing of code share agreements with Singapore Airlines and Air Canada, as well as the continuation of the implementation of restructuring program measures aimed at further rationalizing operations. Among other key business achievements last year, the Croatian airline highlighted the commencement of operations of the third hangar at Zagreb Airport, which increased the capacity of the technical center by 30 percent and enabled the most demanding technical service for Airbus aircraft, as well as the introduction of a new international training program for technical staff at the Technical Center of Croatia Airlines in cooperation with the Polytechnic of Velika Gorica.

One of the most important events is the amendment of the agreement with Airbus regarding the order of new aircraft, under which the original order for four Airbus 319ceo aircraft was postponed and modified to four state-of-the-art Airbus 320neo models, the statement said.

For this year, Croatia Airlines plans further business growth, with the introduction of an additional aircraft into service (wet lease), the opening of as many as four new routes at the end of May and the beginning of June to Milan, Prague, Lisbon, and St. Petersburg, and an expected increase in the number of passengers by 6 percent, to around 1.97 million.

During this year’s season, Croatia Airlines will directly connect Croatia with 35 destinations in 20 European countries, and in cooperation with partners around the world, which, as stated in the announcement, will enable further development and even more successful positioning in the European and global markets.