Tuesday, January 31, 2012

New Jat with new owners

Businessmen taking over Jat
The Serbian Minister for Infrastructure yesterday announced that the government is finalising an agreement with local businessmen to invest into a successor to Jat Airways, which will become Serbia’s new national carrier. A total of ten businessmen are willing to invest into the new airline in return for an ownership stake. “I can’t tell you which businessmen are in question because they are very sensitive people who have their own interests and reasons. Give us another week or two", the minister told the media at a press conference.

One of the businessmen being tipped to be interested in investing into the new Jat is Miroslav Mišković, the owner of the Delta Holding company, which has been named the 86th most successful company in Central Europe by Deloitte with recorded revenue of over one billion Euros in 2011. Several years ago Mišković was interested in creating Serbia’s first low cost airline, Air Maxi, in cooperation with Aviogenex but in the end stepped away from such plans.

The Serbian minister for infrastructure states that the new company will be created before the end of the government’s four year term. Serbs are set to go to the polls on May 6 this year. The minister further states that the new Jat would have a completely new management and would take over Jat’s existing fleet with new aircraft to be ordered in 2013. He further adds that the new company would take over Jat’s employees and will operate with a profit.

22 comments:

  1. This should be news for
    first of april!

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  2. I see this as amazing news. Finally something is going to change and we might just get new(er) planes and the destination we all agree could be profitable... And hey, it could even include small turboprops to Nis, Kraljevo, Banjaluka and more flights to Skopje to make BEG a hub... Heck, it they fire cronies and get professional management, they might even be profitable (although we, taxpayers, will have to pay for the years of mismanagement)... Look at BEG, their management seems to be doing a great job!

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  3. Grrr it's not cash that is needed it's the ability to understand and run the aviation business.

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  4. LOL.. funny news from serbia!!!

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  5. Highely unlikely. This will turn out to be just a spin.

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  6. Next destination - Sydney Australia!

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  7. Will believe it when I see it.
    So many fake promises about Jat were made over the last ten or so years, it is hard to believe it's gonna be different this time around.
    One is for sure, something has to be done with Jat until the end of the year, as those old planes will just not make it for too long.
    And yes, good management is the key.

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  8. only a propaganda stunt of the incompetent government in face of upcoming elections...

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  9. Jat should stick to their managment and pre war aircrafts until Serbia joins the Eu ....The best solutuon possible..all keep their jobs and the taxpayers fill the gaps with money..gypsies outside the Tesla airport stealing and singing..man..this is like a cheech and chong movie from the 70´s.

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  10. Hello Meshihat Idiotski !
    You are an idiot !
    EU membership has nothing to do with profitility ( look Malev !)
    Most Gypsies dont steal ..you are a racist a-hole !

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  11. again? The way that the Serbian government do things, this doesnt sound like it will have a good outcome, if it ever does go ahead. The company does produce some profit but the government is more interested in running the airline into the red to validate the reason in selling it off, just like NIS and every second company in Serbia! They can count on 1 less person on the elections, no party deserves my vote!

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  12. OT:
    MALEV should be bancrupt today
    but...
    Hungarian government prohibit (?!)
    the airline to go bancrupt by law !
    Dont know how this will work out ?

    Sounds like the goverenment
    prohibits by law bad weather or dying...

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  13. "...and will operate with a profit." Source: Crystal Ball Government.

    When someone says this, I know I have to walk away from the deal.

    Btw, they should bring back Deloitte or PwC or whoever made a killing 'helping' them privatise Jat Airways. Damn, I'm in the wrong business, I should be a consultant. There's a lot of money to be made even when there are no solutions to a problem.

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  14. Maybe Novak Djokovic can invest in it lol

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  15. How do you become a millionaire?
    Invest a billion in JAT hehe

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  16. There would be more funny news from Serbia as elections come. Serbian gov strategy now is how to trick IMF people. They will simulate changes in JAT! With old fleet there is no future. Another trick is so called partnership with tycoons. They should invest 5 mil$ stake and something will change!?

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  17. JAT stays JAD forever.

    Declare bankruptcy and start all over again but with different name at first and less old planes.

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  18. I just don't get it why some people tend to blame consultancies for not managing to help in attracting strategic partner - now is more than ever obvious how grave is situation in airline business, with all these airlines going bankrupt or being on a verge of doing so. Who is to invest in an airline in these circumstances?

    Even more having in mind there is ECAA majority share limitation, effectively excluding non-EU airlines/capital as owners.

    It seems to me this tycoon approach is a fairly good option - if it doesn't turn out to be merely a preelection stunt. This approach was used in restructuring Alitalia, and to some extent Olympic. Next step after ensuing optimization would be to sell majority stake to some strategic partner, since in Serbia, like in Italy or Greece, tycoons do not know/wish to run an airline in the long run. Unfortunately for Olympic, its owner Marfin and Greece as a whole, the EU Commission shamelessly wooed its merger with far more successful Aegean, thwarting that kind of scenario. In Alitalia's case, AF is already a strategic 25% owner there, with option to buy majority share from the Italian tycoons in 2012 or 2013, so the Italians would probably end up being more lucky than the Greeks.
    Anyways, this tycoon buyout would be a rather favorable option for Jat...

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  19. As long Serbia is not in EU it has options as MD says.
    hose businessmen could sell their shares in Jat to Emirates or Qatar.
    But only if they do a good job in restucturing Jat.
    Also taxpayers would profit.

    But as MD says every sign of approaching EU could made a sale impossible.
    EU will not save Serbia only the people can do this!
    Dubai and China have a good
    economy..are they in EU?

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  20. They will keep the employees of current JAT? It's a huge mistake.

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