newstodate.aero
Nov 26, 2012 (newstodate): The count-down for Croatia's admission to membership of the EU is running fast, with the date set at July 1, 2013.
The country is therefore in a hurry to bolster its national carrier Croatia Airlines before being prohibited from granting state aid once inside the union.
The state is now to grant a massive capital injection into the carrier as a capital increase that is part of the current turn-around of the airline aiming at returning it to black figures from 2013.
The carrier reported a Q1-Q3 2012 net loss at 1.4 mio euro, so the state grant of 106 mio euro will provide a sound support, alongside major cost cuts including redundancies in the airline's staff.
The country is therefore in a hurry to bolster its national carrier Croatia Airlines before being prohibited from granting state aid once inside the union.
The state is now to grant a massive capital injection into the carrier as a capital increase that is part of the current turn-around of the airline aiming at returning it to black figures from 2013.
The carrier reported a Q1-Q3 2012 net loss at 1.4 mio euro, so the state grant of 106 mio euro will provide a sound support, alongside major cost cuts including redundancies in the airline's staff.