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CROATIA AIRLINES' BUSINESS TRANSACTIONS ESTIMATED AS SUCCESSFUL

ZAGREB, Nov 4 (Hina) - Croatian air company "Croatia Airlines" +assessed its business transactions successful, in first nine +months of 1998, at its annual meeting on Wednesday.+ During those nine months the company's operational income reached +US$88 million and total earnings of US$ 3.7 billion. Good results +are expected as well at the end of the fiscal year.+ According to the presented data, the last year ended with a loss of +US$21.5 million, however, according to the Board chairman, Ivan +Misetic, this year's business moves have shown progress.+ New cooperation contracts with a series of world known companies +such as Lufthansa and KLM, had been announced, as well as further +exchange of Boeing aeroplanes with Airbus.+ It has been decided that the issuing of new shares in favour of +Croatia will increase Croatia Airlines' ground capital by US$40.3 +million.+ The company will issue 1.250
ZAGREB, Nov 4 (Hina) - Croatian air company "Croatia Airlines" assessed its business transactions successful, in first nine months of 1998, at its annual meeting on Wednesday. During those nine months the company's operational income reached US$88 million and total earnings of US$ 3.7 billion. Good results are expected as well at the end of the fiscal year. According to the presented data, the last year ended with a loss of US$21.5 million, however, according to the Board chairman, Ivan Misetic, this year's business moves have shown progress. New cooperation contracts with a series of world known companies such as Lufthansa and KLM, had been announced, as well as further exchange of Boeing aeroplanes with Airbus. It has been decided that the issuing of new shares in favour of Croatia will increase Croatia Airlines' ground capital by US$40.3 million. The company will issue 1.250,000 of regular shares with face value of US$32. The company's ground capital would amount to US$50 million, after the increase, and it would be divided to 1.534,601 shares. (hina) it mm/lml

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