Croatia Airlines recorded a profit of 2023 million euros in 2,3

In 2023, the Croatian national airline Croatia Airlines achieved an operating profit of 4,1 million euros.

Author  HrTurizam.hr

29. April 2024.

In accordance with the continuation of the recovery of civil aviation after the coronavirus pandemic and the increased demand for air transport services, the Croatian national airline Croatia Airlines achieved an operating profit of 2023 million euros in 4,1, which with the net financing result gives a net profit of 2,3 million euros, which represents a positive shift of 20,4 million euros compared to 2022.

The total surge (expressed by the number of flights) in 2023 amounted to 25.977 flights and increased by 11 percent, while in block hours it amounted to 36.213 block hours, which is also 11 percent more than in 2022. Realized passenger kilometers increased by 18 percent, and the average occupancy of the passenger cabin (PLF) was 65,3 percent, which is 3,3 percentage points better than in 2022.

A total of 1,733.529 passengers were transported, which is 19 percent more than in 2022, which increased the market share on the Croatian aviation market, given that the growth of passengers in Croatian airports last year was 15 percent. 412.586 passengers were transported in regular domestic traffic (+16 percent compared to 2022), 1,257.471 passengers in regular international traffic (+20 percent), and 63.472 passengers in charter traffic (+30 percent). 1523 tons of cargo were transported, which is 1 percent more than in 2022. 

In line with traffic growth (+11 percent in flights and block hours), significantly higher operating income and operating costs were achieved compared to 2022.

Operating revenues were realized in the amount of EUR 252,4 million with a growth of 20 percent, which means that Croatia Airlines is back among the largest Croatian net exporters. Growth in passenger revenues was recorded in every quarter last year, and they are a total of 24 percent higher (+40,9 million euros) compared to passenger revenues in 2022.

Operating costs are higher by 11 percent (+25,3 million euros) compared to the 2022 figure, primarily due to the increase in the number of flights (+11 percent) and the increase in the number of passengers (+19 percent), and partly due to inflationary trends. Despite the increase in flights, flying costs were realized at a slightly lower level due to significantly lower jet fuel prices (-17 percent) during 2023 compared to 2022.

During last year's summer season, Croatia Airlines directly connected Croatia with 24 international destinations, i.e. 25 European airports, and the planes flew on 44 international routes. The summer flight schedule has further expanded the network of international destinations by introducing new lines from Split to Oslo and Skopje, from Dubrovnik to Prague, from Bol on the island of Brač to Munich and from Zagreb to Mostar.

In 2023, Croatia Airlines cooperated with 16 code share partners, of which 13 refer to companies from the Star Alliance association (Lufthansa, Austrian Airlines, Swiss, Turkish Airlines, TAP, SAS, Brussels Airlines, United Airlines, Air Canada, LOT, Singapore Airlines, Air India and Asiana Airlines), and three to members of the Sky Team alliance (Air France, KLM and Alitalia/ITA Airways).

During 2023, intensive activities took place in the company in connection with the largest project in the company's history - the renewal of the fleet with new Airbus A220 aircraft, which will begin in June of this year. The process of acquiring new aircraft was completed by concluding long-term operational leasing contracts with foreign lessors, which ensured the entire replacement of the existing fleet with 15 new aircraft by 2027.

Author  HrTurizam.hr

29. April 2024.