March 2 (SeeNews) - State-controlled flag carrier Croatia Airlines [ZSE:CRAL] said it reduced its consolidated net loss to 137.2 million kuna ($19 million/18 million euro) last year from 288.2 million kuna in 2021 though high jet fuel costs offset the rebound in demand for air transportation services.
The increase in jet fuel prices had an overall negative effect of 207 million kuna on the company’s 2022 result, it said in a filing to the Zagreb bourse earlier this week.
The company transported 1.45 million passengers last year, up from 788,000 in 2021, but down from 2.179 million in the pre-pandemic 2019. Operating revenue rose 87% on the year to 1.58 billion kuna, due to an increase in revenue from passenger transportation.
Operating costs went up 53% on the year to 1.68 billion kuna.
The company's shares last traded on the Zagreb Stock Exchange on December 28, when they closed flat at 35 kuna.
($ = 0.941 euro)