Croatia Airlines will convene an extraordinary general meeting to approve a €43 million capital increase by converting creditor claims into newly issued shares, boosting its share capital to €135.38 million in a state-led debt-to-equity recapitalisation aimed at shoring up the debt‑burdened carrier.
Discovered |
Briefing
The state will convert €43m of creditor claims into equity, raising share capital to €135.38m — an immediate balance-sheet intervention that reshapes creditor recovery prospects and the airline’s capital structure. See recent reporting on the carrier’s financial strain: Croatia Airlines posted a €20.9m loss for the first nine months.
The recapitalisation follows management citing higher leasing, maintenance and transition costs tied to late A220 deliveries, explaining the need for state support; compare this targeted airline rescue with larger industry capital raises such as Avio’s €400m capital increase.
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(DE) Croatia’s government converts loans to Croatia Airlines into equity • aerotelegraph.com
FlightGlobal
• David Kaminski-Morrow
Croatia to recapitalise Croatia Airlines with €43m debt-to-equity swap • exyuaviation.com