Croatia Airlines transported more passengers, but revenues remained at the same level as last year

Croatia Airlines in the first nine months of this year achieved an operating profit of 7.2 million kuna, and with the net financing result, a net profit of 3.9 million kuna was realized, which is at the same level as in the same period of 2015, Croatia Airlines reported on Friday. Operating revenues fell by 1 percent compared to the same period last year, and operating costs were also reduced by the same percentage, while maintenance costs increased by 9 percent.

In the first nine months of 2016, Croatia Airlines operated three percent more flights and transported three percent more passengers compared to the same period in 2015. A total of 1,516,197 passengers were transported, of which 384,436 on domestic flights and 1,075,704 in international traffic.

Despite the increase in the number of passengers, passenger revenues remained at the same level as last year due to a decrease in the average value of fares in the context of a significant increase in competition in the Croatian aviation market, according to the statement from Croatia Airlines.

It is also emphasized that the company has significantly invested in the introduction of four new routes that started operating in this year’s tourist season: Zagreb – Lisbon, Zagreb – Milan, Zagreb – Prague, and Zagreb – St. Petersburg, as well as in major aircraft engine overhauls.

During the observed period, the company operated with 12 aircraft – six Airbus and six Dash 8-Q400, and the offered capacity was further increased by leasing an additional aircraft. During this year’s season, the company’s aircraft directly flew to 35 destinations covering 24 markets.

Croatia Airlines reminds that on December 31, 2015, it successfully completed the restructuring program according to the rules of the European Commission, which allows the company further development and a more successful positioning in the regional and European market.