March 1 (SeeNews) - State-controlled flag carrier Croatia Airlines [ZSE:CRAL-R-A] said its consolidated net profit rose to 27.1 million kuna ($4.4 million/3.6 million euro) in 2017, from 6.1 million kuna in the previous year.
Total consolidated revenues rose 13.4% to 1.836 billion kuna in 2017, while costs increased to 1.809 billion kuna from 1.613 billion kuna in 2016, Croatian Airlines said in its 2017 consolidated financial statement filed with the Zagreb Stock Exchange late on Wednesday.
The company said that it transported 2.13 million passengers in 2017, up by 10% on the year. Its passenger load factor improved to 74.4% in 2017 from 70.0% in 2016.
The company's market share in Croatia averaged 27% in 2017.
In 2013, the Croatian government called for expressions of interest in the purchase of a 49% stake in Croatia Airlines but the offer failed to draw any candidates.
In 2016,Croatia's previous government removed the flag carrier from its list of companies of strategic importance for the country's economy whose sale is prohibited but it was put back on the list by the new government earlier this year.
(1 euro=7.44934 kuna)