The Croatian Government has announced it will once more attempt to secure a strategic partner for its Croatia Airlines (OU, Zagreb Franjo Tuđman) asset as part of its National Reform Program (NRP).
The NRP aims to strengthen the competitiveness of the Croatian economy by improving the country's overall business climate, and through the reform of its various state-owned enterprises.
According to an official statement, government has recognized that the development and improvement of Croatia Airlines can only be realized with a "serious strategic partner". To that end, legislation will be drafted and passed to initiate the privatization process. No firm timelines were specified in the document.
Following failed previous attempts at finding willing investors, Croatia Airlines underwent restructuring with a view to transforming it into a viable stand-alone entity. In 2017, it registered a net profit of HRK27 million kuna (USD4.4 million) up from HRK6.6 million in 2016.
A member of Star Alliance, Croatia Airlines operates four A319-100s, two A320-200s, and six Dash 8-400s on scheduled flights to 39 towns and cities across Croatia, Western, Central, and Eastern Europe, Scandinavia, and Russia.
