Croatia Airlines reported profit for the third consecutive year

Net profit for 2015 amounted to 13.8 million, and the generated operating profit reached 16.7 million.

Zagreb, April 25, 2016

Croatia Airlines reported profits for the third consecutive year.  The upward trend is the result of systematic implementation of the restructuring program, which was successfully completed in 2015. Net profit for 2015 amounted to 13.8 million, and the generated operating profit reached 16.7 million.

 

Thus, the operating profit increased by 22 percent compared to 2014 results, when the operating profit amounted to HRK 13.7 million, while net profit increased by 83 percent compared to 2014, when it amounted to HRK 7.5 million.

 

The achieved operating profit was 35 percent above the projected figures, which was partly enabled by the increase in revenues from passenger transport by two percent compared to 2014. The total number of passengers increased by one percent compared to 2014, while international passenger traffic rose by two percent.

In 2015, Croatia Airlines transported a total of 1,849,676 passengers, and signed code share agreements with Singapore Airlines and Air Canada.  The company had direct flights to 31 destinations in domestic and international traffic.

 

In 2015, Croatia Airlines continued an effective implementation of the restructuring program, the main goal of which was to further streamline operations, where the key objective was to ensure the company's contribution to the restructuring program, which was successfully achieved.

 

This year Croatia Airlines plans to achieve further business growth, and these expectations are based on the introduction of an additional aircraft on the market (wet lease), the opening of four new routes at the end of May and early June 2016 (Milan, Prague, Lisbon and St. Petersburg), and predicted traffic of about 1.97 million passengers, which would be an increase of 6 percent compared to 2015.  During this summer season, Croatia Airlines will directly connect Croatia with 35 destinations throughout 20 European countries, and in cooperation with its partners, with the whole world; this in turn, will help the carrier contribute to the growth of tourism in Croatia. This will allow for further development and even better positioning of the Croatian national airline on the European and world markets.

 

KEY BUSINESS ACHIEVEMENTS IN 2015:

  • The third new hangar at Zagreb Airport started operations in February 2015. The hangar takes up an area of 2,200 m2, which increases the capacity of the technical centre by 30%. The hangar is suitable for the most demanding technical checks of Airbus aircraft, ensuring even better maintenance of foreign companies' aircraft.

 

  • A new international program for the education of technical staff started on 3 November 2015, at the Croatia Airlines' Technical Centre. This program is one of a kind in Europe, initiated in cooperation with Velika Gorica College. The new program has been approved and certified by EASA (European Aviation Safety Agency), and it is expected to attract a large number of participants from around the world.

 

  • One of the most important events was the agreement with the company Airbus, which best suits the business interests of Croatia Airlines. The company has renegotiated its initial order for four Airbus 319ceo (current engine options) and replaced it with an order for four state-of-the-art Airbus 320neo (new engine option) models. This means that in the next six to seven years, which is a period that corresponds with the expected exit of the existing A319 and A320 aircraft from the Croatia Airlines' fleet, the fleet will be renewed to include completely new and modern aircraft.

 




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