Croatia Airlines reports widening net loss in 1Q2010

Croatia Airlines reports the following financial highlights for the three months ended 31-Mar-2010 (Croatian Times, 02-Jun-2010):

• Total revenues: EUR37.8 million, -18.4% year-on-year;
• Total costs: EUR51.6 million, +0.2%;
• Net profit (loss): (EUR13.8 million), compared to a loss of EUR5.3 million in p-c-p.

Croatia Airlines Director, Ivan Misetic, stated last month that in 2010, the carrier plans to halve last year's record loss of EUR27.4 million. The carrier made a loss of EUR2.8 million in Apr-2010 due to the volcanic ash cloud disruptions.