The Croatian national carrier Croatia Airlines has accumulated a net loss of almost 13 million dollars in the first nine months of 2022 according to "Avioportal.me". However, the third quarter was solid. At the end of the third quarter, Croatia Airlines reported a net loss of 12.9 million dollars (13.1 million euros). The financial results show that the company is recovering from a difficult 2021 and has not yet reached the level of 2019.
Croatia's national carrier, Croatia Airlines, is making efforts to recover from the crisis caused by COVID-19. By the end of the third quarter, the airline had accumulated a net loss of nearly $13 million. Specifically, in the period from January to September 2022, Croatia Airlines suffered a net loss of 12.9 million dollars (13.1 million euros), twice as much as the airline reported in 2019 - 6.4 million dollars (6.5 million euros). However, the result in the third quarter is promising compared to the loss of 22.1 million dollars (22.2 million euros) that Croatia Airlines suffered in 2021. The Croatian national airline stated that its financial performance in the first nine months of 2022 was also affected by the high price of fuel caused by the Ukrainian war.
As a reminder, last year Croatia Airlines completed a capital increase (recapitalization) of HRK 350 million (USD 55.6 million/EUR 46.2 million). The goal of the transaction was to return the company's capital and reserves to the level of the end of 2019, before the Covid-19 pandemic hit the operations of the Croatian national airline.
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