Croatia Airlines has reported a net loss of €20.9 million for the first nine months of 2025 — more than double the €9 million loss recorded during the same period last year. Even a busy summer season couldn’t reverse the downward trend as the airline continued its costly fleet renewal programme, reports EX-YU Aviation.
The national carrier is currently in the midst of its largest investment cycle, replacing older Airbus A319s, A320s and Dash 8-Q400s with new Airbus A220 aircraft. While operating revenues rose 3% year-on-year to €204.7 million, total operating costs jumped 9% to €226.2 million, driven by higher maintenance, airport and navigation expenses, and a 50% surge in depreciation linked to the new fleet.
Croatia Airlines’ operating loss (EBIT) widened to €21.5 million, with transitional fleet costs hitting €19.9 million by September — already exceeding the full-year 2024 total. The company’s capital remains negative at –€18.8 million, and long-term liabilities have climbed to €258 million, indicating that accumulated losses have eroded its equity.
Despite financial turbulence, the airline carried 1.55 million passengers between January and September, up 9% year-on-year thanks to new routes and expanded capacity. Domestic traffic rose 12%, while international scheduled passengers increased 8.8%. However, charter flights dropped 8.2% due to suspended Tel Aviv services.
Croatia Airlines said the introduction of the A220 fleet “lays the foundation for long-term sustainable operations,” improving efficiency, lowering fuel consumption, and aligning the airline with European decarbonisation goals.
@croatia_airlines Every flight is a story, and every story holds a little magic ????✈️ #CroatiaAirlines #cabincrew #crewlife #fyp ♬ original sound – Lufthansa