Croatia Airlines reports net profit of €1.69 million in H1, 2023

Croatia Airlines has reported a net profit of €1.69 million for the first half of 2023, a significant improvement from last year’s net loss of €21.8 million. The airline recorded 39% increase in passengers compared to the first half of 2022, but falls short of pre-pandemic levels in 2019. Additionally, the airline improved from its pre-pandemic results, in the first half of 2019, the airline recorded a net loss of €11.9 million. Croatia Airlines attributes its improved financial results to increased demand for air travel, higher frequencies, and the introduction of new routes. However, expenses, particularly fleet maintenance, also rose due