Etihad may invest in Serbia's JAT airline next week

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Serbia's JAT Airways will meet a delegation from Etihad Airways next week, a Serbian government official said on Wednesday, raising speculation the Abu Dhabi-based carrier could take a 49 percent stake in the indebted airline.

Serbia has been trying without success to offload the airline for years and Finance Minister Mladjan Dinkic said last month that Etihad was interested in a long-term partnership in which the expanding Gulf airline would take a 49 percent stake.

"The Etihad delegation will meet with their counterparts from JAT and they will then have a joint press conference to announce some hopefully good news," said a government official who asked not to be named.

The Serbian government said last month it was ready to take on 170 million euros ($218.6 million) of JAT debt, pay leases for six new aircraft from EADS's Airbus and secure severance payments for redundant workers.

JAT currently operates 10 ageing Boeing 737-300s and four ATR 72-200 turboprop aircraft on 30 routes within Europe and to the Middle East.

With Europe in economic crisis, Serbia is looking east for investment.

It has secured a $400 million sovereign loan from Abu Dhabi for agriculture investment and agreed more than $400 million in investment by the Al Dahra agricultural firm based in the emirate.

Related:
Topics
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Dubai ruler to attend opening of Suez Canal expansion

Dubai ruler to attend opening of Suez Canal expansion

Project is the centrepiece of President Abdel Fattah Al Sisi...

Paris Airshow: Few orders likely as focus shifts to production backlog

Paris Airshow: Few orders likely as focus shifts to production backlog

Europe’s aviation showcase opens on Monday; may struggle to live...

How to get the most out of social media, by Obama's 2008 campaign manager

How to get the most out of social media, by Obama's 2008 campaign manager

David Plouffe is credited with Barack Obama’s unlikely 2008 victory...

Most Popular
Most Discussed