The paper shows the impact of the pandemic on the operations of the two largest Air carriers from the Republic of Croatia - Croatia Airlines d.d. and Trade Air d.o.o. It is unquestionable that the crisis caused by the pandemic hit Airlines hard, and financial reports and financial indicators show the recovery dynamics of selected companies. A parallel analysis led to the conclusion that the company Trade Air d.o.o. recovers much faster from the crisis and shows more successful operations according to all indicators. ompany Croatia Airlines d.d. should fundamentally change its way of doing business in order to avoid bankruptcy. While Trade Air d.o.o. during the crisis tried to perform its activity in different ways, Croatia Airlines d.d. relied on help and incentives from the state budget. Thus, not only was the company's primary activity not carried out during the crisis, but the competition also squeezed the company out of numerous frequent lines. Croatia Airlines d.o.o. is a company that should find other forms of business besides transporting passengers on regular lines. Considering the size of the fleet, they could increase the amount of cargo transportation or the number of charter flights. This would open up new avenues of business that would help in the recovery of the company.