Croatia Airlines in 2024 recorded an increase in passenger numbers but also a significant operating loss of €16 million (€19.6 million after financing), highlighting a challenging business year for the national carrier. Despite a 6% rise in passengers to 1.84 million and an expanded flight network covering 27 international destinations, the company faced multiple issues that led to financial losses.
Croatia Airlines cites the delayed delivery of new Airbus A220 aircraft—only two out of the planned fifteen arrived—as a key factor behind the weaker results, leading to higher maintenance costs for its aging fleet. The airline adds that supply chain disruptions for spare parts, combined with new EU regulations mandating sustainable aviation fuel (SAF), further worsened its financial situation. The fleet renewal transition period also brought higher crew training costs for the new aircraft, as well as geopolitical instability affecting flight regularity.
Although the carrier achieved a modest 1% growth in total revenue, operating expenses rose by 9%, resulting in a net loss of €19.6 million after financing costs. Nevertheless, EBITDA remained positive at €7.3 million, indicating some operational stability.
In the coming year, Croatia Airlines expects five additional new aircraft, requiring further investment and operational adjustments. The airline also plans to phase out two Dash 8 Q400s and one Airbus A320 from its fleet. To address current challenges, the carrier aims to optimize its flight network, reduce costs through digitalization, and strengthen partnerships with other airlines. While Croatia Airlines plays a vital role in connecting Croatia with the world, the question remains whether it can overcome financial difficulties and return to profitability in the years ahead.
