Croatia Airlines Company Registers Loss of HRK 21.7 Million

The net loss of the Croatian air company ‘Croatia Airlines’ came to 21.7 million kuna in 2005, according to a report issued by the Zagreb Stock Exchange on Monday.

In 2004, Croatia Airlines registered a net profit of 38.3 million kuna.

The company ascribes the losses in 2005 to a rise in material costs, particularly to a rise in fuel prices. Last year, material costs rose by over 100 million kuna to 886.07 million kuna.

The company's earnings increased by 2.5 percent to 1.47 billion kuna. Spending increased by 6.9 percent at an annual level to 1.49 billion kuna. (Hina)

 

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