Croatia Airlines made an operating loss of HRK 95.7 million for the first quarter of the year, resulting in a net loss of HRK 110.5 million. That’s a 12 percent bigger loss than it recorded for the first quarter of 2019 that resulted from the reduced number of flights it ran in March and the depressed number of passengers. Total flights fell 22 percent during Q1, while the number of passengers fell 22 percent. This reduced its total revenues by HRK 45.3m compared to the first three months of 2019.
Croatia Airlines made HRK 50.1m in investment primarily into the upkeep and maintenance of its aircraft. The devastating impact of the pandemic won’t become fully visible until the airline’s second quarter results are published. Between April and the middle of May, it flew just one flight per day between Zagreb and Frankfurt, adding just four more domestic flights beginning May 11.
