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- Cesta dr. Franje Tu?mana 96,
21120 Kaštela, Croatia
- Airlines currently operating to this airport with scheduled services
- Croatia Airlines
- Airlines currently operating to this airport via codeshare
- Austrian Airlines
Split Kaštela/Resnik Airport (Split Airport) serves the cities of Split and Kaštela on Croatia's Adriatic coast. Split is a major economic centre and popular tourist destination in Croatia, and it is served by airlines from across Europe. The airport's traffic has a strong seasonal pattern, with the vast majority of traffic coming in the warmer months, when many airlines operate seasonal services into Split.
Location of Split Airport, Croatia
Ground Handlers servicing Split Airport
104 total articles
6 total articles
In part one of our report on Croatia Airlines, we looked at its network and considered its possible appeal to any prospective bidder if the Croatian Government proceeds with reported plans to sell a stake in its national carrier. Interest will likely focus on the international market from Croatia, where it has some strong market positions, although it would bring only limited additional European access to a major Asian or Middle Eastern carrier and faces growing LCC competition.
In this second and final part of our report, we examine Croatia Airlines’ finances and cost base. The group is loss-making since 2008, with a high-cost CASK structure and liable to need fresh equity capital (on top of that provided by the government in a debt to equity swap in 2012).
Having considered any strategic interest in Croatia Airlines, potential bidders will need to assess the feasibility and timing of any return to profitability and factor in the likelihood of having to inject more cash into the company. It will be a challenging sale.
Following recent reports that the Croatian Government plans to sell a stake in its 98% owned national carrier by 15-Oct-2013, media reports have linked Garuda Indonesia, China Southern and Etihad Airways with a possible bid for Croatia Airlines. All three have denied that they are in talks about an acquisition, but attention is likely to focus increasingly sharply on the loss-making Zagreb-based carrier.
Around 20% bigger by number of seats than Air Serbia (formerly Jat Airways), in which Etihad recently bought a 49% stake, Croatia Airlines is a member of the Star Alliance and has codeshares with a number of European alliance partners. In this first part of a planned two part report, we analyse Croatia Airlines’ network and ask whether it might have some appeal to a prospective bidder. In part two, we will examine its finances and cost base and consider their impact on the possible privatisation.
Vueling's growth this year, the largest since its merger with rival Clickair in 2009, underscores the airline's role as a cost-effective hub carrier with connecting flights at Barcelona's El Prat Airport, a status Iberia concluded it could not achieve in Barcelona, largely pulling out of the market in favour of specially-formed LCC Clickair. After the Clickair-Vueling merger, Iberia retained part ownership (46%, now controlled by Iberia parent International Consolidated Airline Group) while the merged carrier continued its focus on Barcelona. The partnership appears to be working well for both Iberia and Vueling.
That focus has been re-affirmed by the airline's intention to grow summer destinations served from El Prat by a further 10, bringing the total to 70, 23 more than served last year, and representing a 17% seat increase at El Prat. The growth is supported by the addition of four A320s and a single A319.
Croatia Airlines is confident it can return to profitability in 2012 after significantly narrowing its losses this year despite high fuel prices. The Croatian flag carrier is banking that its future fleet plan, which focusses on replacing three A320s with four A319s, will result in further improvements in profitability as it will be able to better match capacity with demand. New routes to the east are also planned – including Moscow, St Petersburg and Sofia – to balance a network that is now primarily focussed on Western Europe.
Croatia Airlines, which launched services in 1991 just as Croatia declared independence from the former Yugoslavia, has incurred losses every year since posting a breakeven result in 2007. Croatia Airlines CEO Srećko Šimunović expects the carrier to end 2011 with a loss of EUR9 million (USD12 million).
Mother nature is going to cost easyJet as much as GBP100 million this year, but the UK-based LCC does not expect that to prevent it from posting a healthy profit. Winter snow disruptions in 2009 and 2010 resulted in losses of approximately GBP25 million. The recent ash-related airspace shut downs are expected to cost another GBP50-75 million.
On 09-Dec-2009, Andy Harrison, CEO of easyJet handed in his resignation, effective Jun-2010. He is only the second CEO the airline has had. The airline was quick to emphasise that his departure was specifically not connected with this year’s board challenges to his leadership strategy.
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