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- Pleso bb
HR - 10 150 Zagreb
- Airlines currently operating to this airport with scheduled services
Norwegian Air Shuttle
- Airlines currently operating to this airport via codeshare
- Air Canada
Delta Air Lines
KLM Royal Dutch Airlines
Zagreb Airport is the main international gateway to the city of Zagreb, the largest and capital city of Croatia. The airport is the busiest airport in the country and the hub of national carrier Croatia Airlines.
Location of Zagreb Airport, Croatia
Ground Handlers servicing Zagreb Airport
136 total articles
8 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.
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).
Rumours emanating from Croatia suggest the US-Canadian ADC&HAS joint venture is emerging as front runner for the concession to operate Zagreb’s Pleso Airport even though it does not satisfy one of the criteria demanded of potential concessionaires.
Almost two years after the privatisation by lease of Chicago’s Midway Airport fell through, 2011 will be a ‘make or break’ year for those who would like to see more US airports attracting private capital and management (and there are plenty that don’t). Conversely, there are signs that at least one US airport operator is looking to Europe, possibly in an investment capacity.
Croatia’s Zagreb Pleso Airport is reported to have received interest from Frankfurt, Zurich and Vienna airports to become concessionaires for the construction of the airport’s new terminal. The Croatian Government plans to announce the tender once necessary documentation is completed on 15-Oct-2010.
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