Jat gets partner - Etihad's delegation coming to Belgrade in early April

Minister of Finance and Economy Mladjan Dinkic, who is on a working visit to Abu Dhabi, announced today that a Memorandum of Understanding for strategic partnership between the company Etihad from the United Arab Emirates (UAE) and the domestic air carrier Jat Airways should be signed in mid April in Belgrade.

Partnership between Jat and Etihad entails a complete modernization of the Jat fleet, i.e. purchase of new airplanes, on grounds of which Etihad might take over 49% of ownership in this domestic company and conclude a long-term management contract, the Ministry of Finance and Economy said in a release.

Owing to this, Jat might become a part of Etihad’s alliance, and the business of our national air carrier might become profitable in the future.

Dinkic confirmed that the company Etihad expressed its readiness to immediately help Jat to purchase four new aircraft on lease, which it will need as of June because of the start of the tourist season.

The commercial cooperation between Jat and Etihad includes the introduction of daily flights from Belgrade to Abu Dhabi from mid-year, and the launch of the Belgrade-Berlin-Chicago service in cooperation with Air Berlin and three more destinations in the US, the minister said.

He pointed out that Etihad had a fleet of 72 modern airplanes, adding that it had generated a profit of $4.8 billion in 2012.

Dinkic said that that company had a minority stake in Germany's Air Berlin, Ireland's Air Lingus, Virgin Australia and Air Seychelles as well as the right to manage them.

The Minister reiterated that Serbia wished Jat to become a profitable company and underlined that Etihad would be an ideal partner for our national air carrier.

Dinkic said that it was agreed that representatives of Etihad should come to Belgrade in mid-April and start with a detailed analysis of Jat’s business activity.