Serbia will open a tender for an advisor in the sale of its troubled flag carrier JAT Airways by the end of June
, local broadcaster b92 reported on Monday.
"In a nut shell, the main job of the consultant will be to open a tender for the selection of a strategic partner," b92 (www.b92.net) quoted the state secretary for air traffic, Miodrag Miljkovic, as saying.
The consultant will also say what capitalisation in the company is needed, he added.
The decision to open the tender for the advisor was made after the government's working group on JAT's consolidation and its management concluded that the company is unable to operate profitably.
The new airline that will be set up with the help of the strategic partner will take over JAT's role as Serbia's national carrier, Miljkovic said.
The government will contribute $400,000 (333,960 euro) to the establishment of the new airline, b92 said citing Infrastructure Ministry's earlier reports. The Serbian state and the strategic partner have to agree what stake in JAT will be offered for sale with the government unlikely to retain a majority stake.
Serbia is mostly negotiating with Turkish Airlines about a possible strategic partnership with JAT, Miljkovic said.
JAT Airways said in March it posted a loss of 23.5 million euro ($29.1 million) last year. Its combined losses from the 1990s total about 146 million euro.
Source: SeeNews - 08/06/2010
"In a nut shell, the main job of the consultant will be to open a tender for the selection of a strategic partner," b92 (www.b92.net) quoted the state secretary for air traffic, Miodrag Miljkovic, as saying.
The consultant will also say what capitalisation in the company is needed, he added.
The decision to open the tender for the advisor was made after the government's working group on JAT's consolidation and its management concluded that the company is unable to operate profitably.
The new airline that will be set up with the help of the strategic partner will take over JAT's role as Serbia's national carrier, Miljkovic said.
The government will contribute $400,000 (333,960 euro) to the establishment of the new airline, b92 said citing Infrastructure Ministry's earlier reports. The Serbian state and the strategic partner have to agree what stake in JAT will be offered for sale with the government unlikely to retain a majority stake.
Serbia is mostly negotiating with Turkish Airlines about a possible strategic partnership with JAT, Miljkovic said.
JAT Airways said in March it posted a loss of 23.5 million euro ($29.1 million) last year. Its combined losses from the 1990s total about 146 million euro.
Source: SeeNews - 08/06/2010
