Croatia Airlines to receive HRK 88.5 mn in state aid
- by croatiaweek
- in Business
Croatia Airlines (Photo: A.Grubelic)
ZAGREB, Nov 13 (Hina) – The Croatian government on Friday approved state aid in the amount of HRK 88.5 million for Croatia Airlines to help it deal with the consequences of the coronavirus pandemic.
A state secretary at the Sea, Transport and Infrastructure Ministry, Josip Bilaver, said that the aid was determined in consultation with the European Commission and that it referred to compensation for losses incurred in the period from March 11 to June 30.
The money for aid has been secured in the state budget.
Bilaver said that due to the pandemic the airline had seen a drop in transport volume of between 65% and 90% as against 2019.
The airline posted an operating loss of HRK 22.4 million in the first nine months of 2020 and a net loss of HRK 243.5 million. The net loss was HRK 195.1 higher than in the same period last year.
