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CRAL-R-A - Croatia Airlines Dd News Story

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Last Trade - 28/06/17

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

Union puts off Croatia Airlines strike plan pending legal ruling

Tue 7th August, 2018 3:49pm
ZAGREB, Aug 7 (Reuters) - A union at Croatia Airlines
 HRAR.ZA , has suspended on a court request plans for a strike
on Wednesday, pending a ruling on its legality, its legal
representatives said on Tuesday.
    The Croatian national carrier has asked a Zagreb court to
review whether the industrial action at the peak of the tourist
season is legal. The airline says it could cause damages of
800,000 euros a day and affect thousands of passengers.
    Croatia's transport minister Oleg Butkovic also warned the
carrier could find it difficult to recover from losses should
the strike proceed. The airline, which is crucial for tourism
that accounts for 20 percent of Croatia's economic output, has
been without a regular management for 20 months.
    "The strike has been put off because of the assessed
damage," Albin Hotic of the ORCA union, representing pilots,
flight attendants and aeromechanics, told N1 television. The
court would decide on the issue on Wednesday, he added.
    ORCA has for long called on the government to appoint new
management at Croatia Airlines, help seal a collective
bargaining agreement, raise pay and reduce over-time hours.
    But the airline said it could not raise an extra 53 million
Croatian kuna ($8 million) a year needed to meet the demands.
    Croatia Airlines reported a first half loss of 79.6 million 
kuna ($12.46 million), 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 = 6.3901 kuna)

 (Reporting by Maja Zuvela in Sarajevo
Editing by Alexander Smith)
 ((; +387 33 295 485; Reuters
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