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Croatia Airlines Outlines its Restructuring Plan
The plan will involve a route network expansion as well as a fleet expansion with the Croatian authorities seeking investors to privatize the airline.
Earlier in the year, Croatia Airlines had announced its plan on expanding its fleet with an expecting route increase which will be operated by the much larger Airbus A319 with a 150 passenger capacity. The carrier is also expected to utilize the Bombardier CRJ-1000 on some of its route network.
The airline also announced on its website that it will offer three-weekly flights from Zagreb to Sofia beginning May 1 and Zagreb to Podgorica starting May 3 offering three weekly services.
Currently, the Star Alliance member offers an all- year travel connectivity of 40 scheduled flights in 26 countries and continues to help in the development of Croatia’s tourism.
The Croatian authorities have also been seeking to find finances for the cash-strapped airline with Aegean Airlines and Air Nostrum already showing interest in acquiring stakes in the Croatian airline.
Last year, the Croatian government granted its flag carrier 33.7 million Euros with an additional amount 20.2 million Euros with condition that the airline re-capitalizes by the middle of the year. A new four-year contract in subsidies was also tabled for the airline to meet the country’s Public Service Obligation (PSO) according to EX-YU Aviation.
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