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CRAL-R-A - Croatia Airlines Dd News Story

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Last Trade - 28/06/17

Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £190.5m
Position in Universe th / 640

Court rules that strike at Croatia Airlines is illegal

Thu 9th August, 2018 12:45pm
ZAGREB, Aug 9 (Reuters) - A Zagreb court ruled on Thursday
that a planned strike by a union at national flag carrier
Croatia Airlines  HRAR.ZA  was illegal, bringing relief to the
government at the peak of the tourist season but angering the
    The airline and Croatia's government had said the strike
could affect thousands of passengers and cost 800,000 euros
($927,360) a day, from which the carrier could find it difficult
to recover.
    The union, which had called on the government to appoint new
management, help seal a collective bargaining deal, raise pay
and reduce over-time hours, has temporarily called off the
strike planned for Aug. 8 on the court's request.  L5N1UY5FP 
    In its final ruling the Zagreb County Court said it banned
the strike because it found that "negotiations about the new
collective bargaining deal have not been done in good faith". 
    It said that Croatia Airlines' management has demonstrated
openness to continue the negotiations. 
    The union, grouping pilots, flight attendants and
aeromechanics, said it would challenge the ruling before the
Supreme Court.
    Croatia Airlines, which is crucial to the tourism that
accounts for 20 percent of Croatia's economic output, has been
without a regular management for 20 months. It argued it could
not raise the extra 53 million Croatian kuna ($8.27 million) a
year needed to meet the union's demands.
    The carrier reported a first half loss of 79.6 million kuna,
up 17 percent from a year ago, although its passenger numbers
rose 5 percent to nearly 950,000.
    Zagreb has been trying since at least 2013 to find a
strategic partner for Croatia Airlines, without success.
 ($1 = 6.4117 kuna)
 ($1 = 0.8627 euros)

 (Reporting by Maja Zuvela in Sarajevo; Editing by Kirsten
 ((; +387 33 295 485; Reuters
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