Croatia’s national carrier Croatia Airlines ended the first nine months of 2025 with a net loss of €20.9 million, already exceeding the €19.6 million loss recorded for the entire year 2024. During the same period, the airline posted an operating loss of €21.5 million, which together with the net financing result yields the final net loss of €20.9 million — confirming that the company continues to operate under challenging conditions marked by high fleet renewal costs and rising external expenses.
Despite the loss, the airline achieved a positive EBITDA of €12.4 million, meaning that its core business – before depreciation, interest and taxes – remains profitable. In other words, Croatia Airlines still generates profit from regular operations, but it is offset by expenses arising from major investments and financial obligations.
In the first nine months, the company carried 1.55 million passengers, up 9% compared to the same period in 2024, operating 20,933 flights and recording 29,506 block hours. Domestic traffic grew by 12%, while international traffic increased by 9%.
Total revenues rose by only 3%, while operating costs increased by 9%. The largest increases came from depreciation, air services, and maintenance, which together account for almost the entire cost growth – a total of €19 million. Depreciation alone rose by €8.5 million, directly linked to the delivery of new aircraft.
Croatia Airlines currently operates seven new Airbus A220 aircraft, and plans to receive eight more of the same type by the end of 2027. The company claims that the new fleet brings lower fuel consumption, reduced environmental impact, and greater passenger comfort, although the financial benefits remain limited for now due to high transition costs, estimated at €19.9 million in 2025.
During the summer season, the airline offered more than 2.29 million seats – an 18% increase compared to 2024 – and operated around 18,800 flights. New routes were introduced from Zagreb to Madrid, Milan, Hamburg, Prague, and Bucharest, with additional frequencies from Split and Dubrovnik.
Although the fleet renewal and traffic growth create a foundation for improved efficiency in the future, the results show that Croatia Airlines is still going through a financially demanding period, where investments and rising costs outweigh short-term benefits.
