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FINANCIAL NEWS
UAE- Etihad Airways likely to buy 49% stake in Serbia’s JAT
12 Apr 2013
(MENAFN) A Serbian government official stated that next week, UAE’s Etihad Airways may acquire a 49-percent stake in the Balkan country’s indebted JAT Airways, reported Arabian Business.
The official said that a delegation representing Abu Dhabi-based Etihad would meet counterparts from JAT, after which they will make an announcement.
In March, the Serbian government said that it was ready to take on USD218.6 million of JAT debt; pay leases for 6 new Airbus planes and secure severance payments for redundant employees.
It is worth noting that Serbia has for year been attempting to offload the airline, which has 10 ageing Boeing 737-300s and 4 ATR 72-200 turboprop aircraft on serving 30 destinations within Europe and the Middle East.
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