No Interest in Croatia Airlines Stake

It seems nobody is interested in Croatia’s troubled national carrier Croatia Airlines. Last night was the deadline for interested parties in the tender issued for a 49% stake in the airlines, and according to daily Jutarnji list, not one offer was received…

There had been speculation that the Chinese and Indonesia’s Garuda Airlines could be interested in acquiring a stake in the airline, but as yet nothing concrete has come forward. The Croatian government issued a tender for interest in the sale of a stake in Croatia Airlines in October, followed by conditions of any sale. A maximum stake of 49% in Croatia Airlines is available. Minister of Transport Siniša Hajdaš Dončić visited Indonesia recently in the search for investors, but so far to no avail. Etihad, who bought a stake in Serbia’s JAT Arilines, denied having an interest in Croatia Airlines.

According to financial reports this year was the first time in five years the company had recorded positive business results. Croatia Airlines, in the first nine months of this year, achieved net profit of 20.3 million kuna (2.7 million EUR). In the same period last year the company recorded a net loss of 10 million kuna (1.3 million EUR), which makes the total positive shift of 30.2 million kuna (4 million EUR). Total revenues of the company in the first nine months of this year amounted to 1.22 billion kuna (160 Million EUR).