Croatia Airlines. Photo: Shutterstock Not just airBaltic: Another airline is facing financial difficulties. Croatia Airlines, Croatia's national airline, is moving toward delisting its shares from the Zagreb Stock Exchange.
The company has issued a notice of a general meeting of shareholders to be held on December 7, 2026, where a proposal to cease trading its shares on the exchange will be discussed.
The move stems, according to the company, from exceptionally low trading volumes and limited investor interest. Trading data for the stock shows poor activity over time, making continued listing on the stock exchange less worthwhile for the company.
However, the company's financial challenges do not indicate an immediate path to bankruptcy.
According to the proposal, shareholders who vote against the deletion will be entitled to demand that Croatia Airlines purchase their shares in exchange for fair compensation.
The value of the compensation will be calculated, as a rule, based on the average share price in the three months preceding the relevant period. If the number of trading days in this period is less than one third of the possible trading days, an external valuation will be required to determine the consideration.
The company must complete the share purchase within three months of the decision's registration in the Companies Registry, and opposing shareholders can submit their demand within two months of that date.
The Croatian state currently owns more than 98% of the company's shares. The general meeting is expected to decide whether to complete the move and delist the stock.