In line with the recovery of civil aviation after the coronavirus pandemic and increased demand for air transport services, the Croatian national carrier Croatia Airlines achieved an operating profit of 4.1 million euros in 2023, resulting in a net profit of 2.3 million euros when combined with the net finance result, representing a positive shift of 20.4 million euros compared to 2022.
The total number of flights in 2023 amounted to 25,977, an 11 percent increase, while block hours reached the number of 36,213, also 11 percent higher than in 2022. Passenger kilometers increased by 18 percent, with the average passenger cabin load factor (PLF) reaching 65.3 percent, an improvement of 3.3 percentage points compared to 2022.
A total of 1,733,529 passengers were transported, 19 percent increase compared to 2022, resulting in an increased market share in the Croatian aviation market, as passenger growth at Croatian airports was 15 percent last year. In regular domestic traffic, 412,586 passengers were transported (+16 percent compared to 2022), in regular international traffic 1,257,471 passengers (+20 percent), and in charter traffic 63,472 passengers (+30 percent). Cargo transportation amounted to 1,523 tons, 1 percent more than in 2022.
Due to the increase in traffic (+11 percent in flights and block hours), significantly higher operating revenues and operating costs were achieved compared to 2022.
Operating revenues amounted to 252.4 million euros, a 20 percent increase, signifying a return for Croatia Airlines among the largest Croatian net exporters. Passenger revenue growth was recorded in every quarter of last year, totaling 24 percent (+40.9 million euros) compared to passenger revenues in 2022.
Operating costs increased by 11 percent (+25.3 million euros) compared to 2022, primarily due to the increase in the number of flights (+11 percent) and the number of passengers (+19 percent), partly due to inflationary trends. Despite the increase in flight hours, flight costs were achieved at a slightly lower level due to significantly lower jet fuel prices (-17 percent) during 2023 compared to 2022.
During the 2023 summer season, Croatia Airlines directly connected Croatia with 24 international destinations, or 25 European airports, operating on 44 international routes. The summer flight schedule expanded the network of international destinations by introducing new routes from Split to Oslo and Skopje, from Dubrovnik to Prague, from Brač Island to Munich, and from Zagreb to Mostar.
In 2023, Croatia Airlines collaborated with 16 code-share partners, 13 of which were companies from the Star Alliance association (Lufthansa, Austrian Airlines, Swiss, Turkish Airlines, TAP, SAS, Brussels Airlines, United Airlines, Air Canada, LOT, Singapore Airlines, Air India, and Asiana Airlines), and three were members of the Sky Team alliance (Air France, KLM, and Alitalia/ITA Airways).
During 2023, the company engaged in intensive activities related to its largest project to date – the fleet renewal with new Airbus A220 aircraft, commencing in June of that year. The acquisition process of new aircraft was completed by concluding long-term operational leasing agreements with foreign lessors, ensuring the complete replacement of the existing fleet with 15 new aircraft by 2027.
