Serbia seeks investors for JAT airline
Serbia’s government Tuesday sought buyers for its ailing JAT airline, saddled debt and aging planes.
JAT’s debt totaled €247 million ($388 million) and its assets €162 million at the end of 2007, the Serbian privatization agency said in its notice in the Politika daily, which called for tenders within two days. Serbia is lowering its price for JAT from a hoped-for €150 million for a 51% stake, Economy Minister Mladjan Dinkic said last week. The state may sell up to 75% of the airline if the offer is right, he said.
Serb media have cited Russia’s Aeroflot, Icelandair and Air India as possible buyers for the 81-year-old airline, which has nine Boeing 737s and three ATR turboprops. JAT was hit hard by UN sanctions during the 1990s for Belgrade’s role in the bloody breakup of Yugoslavia. The sanctions grounded most of the airline’s flights. (m&c.com)
ADVERTISEMENT
Number of Liquidations Increasing Rapidly
Varga: Slowing Down Inflation 'Most Important' Task of Econo...
Andor Nagy Joins Dentons Budapest
New Generation Internet Forum 2023 Coming in November
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
