November the 2nd, 2025 – Despite growth, Croatia Airlines appears to be continuing down a precarious path indeed as it more than doubles its losses. The company’s losses now total a staggering 21 million euros.
As Poslovni Dnevnik writes, Croatia Airlines has continued to record concerning operating losses totalling a massive 21.5 million euros in the first nine months of this year. With the net financing result implied, this means Croatia Airlines losses reached 20.9 million euros with a positive EBITDA indicator of 12.4 million euros.
The net loss in the period from January to the end of September 2024 amounted to 9 million euros, while the domestic carrier’s total revenues amounted to 227 million euros, which is ten percent more than in the same period in 2024.
Total operating revenues are three percent higher compared to the same period last year, and the largest share of 84.5 percent in total operating revenues relates to revenues from passenger transport.
In the first nine months of 2025, Croatia Airlines transported a total of 1,553,577 passengers, which is nine percent more than in the same period in 2024, with the number of passengers in domestic scheduled traffic increasing by 12 percent and in international scheduled traffic by nine percent.
The transition costs of the company’s fleet replacement in 2025 are estimated to stand at a whopping 19.9 million euros, which exceeds the amount of transition costs incurred in 2024 in the amount of 19.4 million euros. Operating costs recorded over the first nine months of 2025 are also nine percent higher compared to the same period last year. The largest absolute increase in costs for Croatia Airlines compared to the same period in 2024 was recorded in categories that the company couldn’t influence; these are depreciation, air traffic services costs (airport reception and dispatch and flight control) as well as increasing maintenance costs.
Depreciation is also higher by 8.5 million euros, air traffic services costs are higher by 6.5 million euros, and aircraft maintenance costs (excluding personnel) by 3.1 million euros, while the above costs together account for around 95 percent of the absolute increase in operating costs of 19 million euros.
Since October 2025, Croatia Airlines has been operating with seven new Airbus A220 aircraft, while the delivery of additional aircraft of the same type is expected during 2026. From March the 30th until October the 25th, 2025, Croatia Airlines aircraft operated according to its summer flight schedule in which flights were adjusted to the needs of passengers, especially during the height of the summer tourist season, as well as to the capacity of the fleet.
A statement from Croatia Airlines states that in the first nine months of 2025, the Croatian national airline, following the guidelines defined by the so-called Post Covid Strategy, has continued with the consistent implementation of the largest project in its history, which is the total renewal of the entire fleet.
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