Croatian Airlines reduces loss in 2010

Croatia Airlines (CA) reported a net loss of HRK 159.1 million in 2010, according to a consolidated unaudited financial report which the leading Croatian airline released on the Zagreb Stock Exchange on Monday.

The loss was 39.3 million kuna, or 19.8 percent, lower than the loss incurred in 2009.

In 2010, Croatia Airlines' revenues increased on the year by 1.7 percent to HRK 1.47 billion.

The total expenses were cut by 0.8 percent to HRK 1.63 billion.

The number of passengers transported by the Croatian flag carrier decreased by 6 percent on the year, which the company ascribes to the global crisis in the air transport industry, cancellation of flights due to volcanic ash over Iceland last spring, and a strike of CA cabin crews.


(Hina)