Serbia seeking investors for new airline to replace Jat

04 August, 2011 00:15

The Serbian government launched a tender Monday to find investors to create a new airline to replace loss-making Jat Airways (ATW Daily News, June 16, 2010). A previous tender for the sale of a 51% stake in Jat, priced at €51 million ($73 million), failed in 2008 (ATW Daily News, June 30, 2008).

The government is looking mainly for airlines and/or financial backers with airline holdings to invest in the new Serbian carrier. A possible merger between Jat and Turkish Airlines, discussed last year, didn't come to fruition (ATW Daily News, July 14, 2010). To cut losses, Jat sold its Belgrade headquarters building last year. The carrier operates a fleet of 10 Boeing 737-300s and four ATR-72s.

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