Thursday, March 27, 2014

Etihad granted final Air Serbia approval

Etihad gets the final OK for Air Serbia stake

Etihad Airways confirmed on Tuesday that requisite government and regulatory approvals, consent and permissions sanctioning the strategic partnership between Air Serbia and Etihad Airways, have now been obtained. On August 1, 2013, the Serbian government signed a strategic, long term agreement, with Etihad and unveiled a 200 million dollar plan to revitalise Jat Airways, now known as Air Serbia. Etihad CEO, James Hogan, said, “I am pleased to confirm Etihad Airways is now the shareholder of 49% of Air Serbia. This investment represents an important partnership with the Government of Serbia, as we work together to build Air Serbia into the leading airline in the region”.

According to a leaked draft of the takeover agreement, “Etihad proposes to provide funding to Jat of up to $100.000.000 (one hundred million US dollars) through a combination of equity, debt and other financial facilities and/or funding arrangements as may be mutually agreed”. In addition, the draft agrrement states that Etihad will further invest into Air Serbia in instalments. These will amount to fourteen million million dollars by December 31, 2014, another fourteen million by the end of 2015 and a further fourteen million by the end of 2016. Additional grants will also be provided, amounting to 22 million dollars by the end of this year and another eighteen million by the end of 2015.

Serbia’s Deputy Prime Minister, Aleksandar Vučić, said on Tuesday, "We are pleased to have closed the transaction with Air Serbia’s strategic partner, Etihad Airways. Air Serbia is the only major airline in the region to have successfully partnered with a leading global airline, Etihad Airways. We are proud the national airline of Serbia now stands shoulder to shoulder with the best in the world”. The CEO of Air Serbia, Dane Kondić, added, “Air Serbia has a strong business plan, and a clear government mandate, to be a safe, best in class and profitable airline. We have already achieved a remarkable transformation of the national airline of Serbia and are looking forward to the journey with our new shareholder and strategic partner, Etihad Airways".

44 comments:

  1. Agreement draft here

    http://www.skockajtebudzet.rs/en/file/show/Etihad%20Transaction%20Framework%20Agreement%20-%20Ugovor%20o%20transakcionom%20okviru.docx

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  2. All this noise for a second rate airline flying old decrepit planes?

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    Replies
    1. Yes, precisely for such airline flying such planes. You can now pick up your frustrated friend above and you can together go and stage a protest. Or bang your heads against the wall. Or scream at each other out of frust and despair. Whatever.

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    2. FYI, even Mother Lufthansa still has B733 in its fleet and will use em throught the next 18 months.

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  3. One more reason to be happy with transition and very good development relation among partners of ETIHAD AIWAYS and AIR SERBIA. MR. D. Kondic say all. Jos osaje jedno od vaznih pitanja jeste kada ce biti pocetak radova na transformaciji putnickog terminala na
    Beogradskom aerodromu. Nepotrebno je reci koliko je nizostavano imati svoj terminal za Srpskog i Emiratskog partnera. Zaista to je za dalji razvoj odnosa i standarda Srpsko - Emiratskog partnera krucijalni pomak, pecat imidza, novi nacin letenja iz ovog dela Evrope. Mozda neko ima informacije, moze napisati neku rec po ovom pitanju.
    Till than best wishes. Rodney son & co. Kraljevo / Sydney

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    Replies
    1. What new way of flying do you speak of? Still using the same old aircraft as before? or does the new paint job on the ATR's suddenly make them different? It will be interesting to see how long the arabs will accept losses before they bail out, I am betting it will be before the end of the year.

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    2. Pain won't go away, eh? Xanax can't help either? Don't give up, eventually you will find a way to carry on living in this world in which Air Serbia unfortunately exists. I know every day seems hopeless but you need to have faith. Good luck :)

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    3. I remember many people writing when this site said Etihad was taking over Jat that it was an April's fools joke. Then when they realized it was happening they said Etihad was doing it for cheap agricultural land. Now they will apparently pullout by the end of the year. I say let the haters hate.

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    4. Actually, last night I went back and looked at old posts regarding JAT around the time when rumours about Etihad taking over JAT started circulating.
      Nearly everyone was a smart ass and attributed those stories to "Serbian wishful thinking" and that company like Etihad wouldn't touch JAT with a barge pole.

      I agree, although there was some merit for some of that thinking, namely many many talks of other airlines taking over JAT that never happened. So I could understand some of them, but...
      I can guarantee that most of those guys are still around just singing a different song.
      As you said mate, yesterday is one thing, today another, tomorrow we will all have to convert to Islam if we want new A320s...

      Changing opinions is fine, things change, so do we. But you know exactly who I am talking about.
      Maybe this whole AirSERBIA project goes to hell, who knows, maybe not, but why be so negative from the get go??
      Hate consumes people like no other feeling and its sad to look at.

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  4. 14+14+14+22+18 = 84 million that Serbia must pay + 300 million for debts etc. Almost 400 million. For what? Old Airbuses, old ATR's and LF of some 55%?

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    Replies
    1. If you want LF, scrap old planes, stop complaining

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    2. For A380 you see in the picture. That will drive trolls crazy.

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    3. Why? That is like management of Croatia airlines make a picture of LH A380. What should that be a such a big deal?

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  5. OT:
    Adria Airways results in January 2014: 10,3% less flights compared to 2013, 13% more passengers (61.316), 64,45% LF (up 5,3% compared to last year), operational result 600.000€ higher.

    Source: Sierra5

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    Replies
    1. Great job, Adria!

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    2. I'm pretty sure ex-Yu reported these numbers like a month ago....Remember reading JP had a strong start

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    3. Yes http://exyuaviation.blogspot.com/2014/02/air-serbia-and-adria-start-strong-in.html

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  6. Good new for Serbia. I have also seen that they have added Etihad as the part owner on the Serbian business registry.

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    1. "Etihadu" upisan vlasnički udeo od 49% u "Air Serbia"

      http://www.ekapija.com/website/sr/page/877354/Etihadu-upisan-vlasni%C4%8Dki-udeo-od-49-u-Air-Serbia

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  7. Tomorrow YU-AON will leave Air Serbia fleet, going to Ireland.

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    Replies
    1. Why to Ireland?

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    2. Returning to owner, or owner's wish :)

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    3. I think YU-AON is amongst the 4 going to the scrap yard.

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    4. Wasn't that a leased plane?

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    5. Hmm I can't remember when was the last time YU-AON flew. According to some internet sources it was this February to Istanbul. This aircraft has been with Jat Airways/Air Serbia since 2002 and it's quite old now since it was manufactured in 1987.

      I am happy it's leaving Belgrade. That parking area next to Jat Tehnika is starting to look like a graveyard of white tails. It could be that it's leaving for Ireland so as to make more space there.

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    6. Farewell YU-AON
      http://www.flightradar24.com/JAT100/2fd4698

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  8. Sorry to go off topic, but I have a quick question with regards to baggage transfers from inbound KLM overseas flights to Air Serbia's flight from Amsterdam to Belgrade. A friend traveled YVR-BEG via Amsterdam back in December and had to retrieve his baggage in Amsterdam and check it in again separately for the Belgrade flight. I'm having trouble understanding why this was the case, since he booked a connecting flight, and from what I know the 2 airlines have a codeshare agreement. Does anyone know if this is still happening, or has it been regulated?

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  9. Vueling najavljuje liniju Rim Fiumicino-Zagreb od 26.6.2014, svakog četvrtka i nedjelje

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  10. Air Srbija Flota za 5- 6 Godina ce izgledati ovako:
    10 Airbus 320 Neo
    5 Airbus A 321-200 NEO
    9 Boeing 787-9
    6 Boeing 777-300 ER
    8 ATR 72-600
    12 Airbus a 350-900
    3 Airbus A 380-800

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    Replies
    1. AHAHA. Otkud ti ta informacija. tako nesto je jedino moguce ako se u Srbiji otkrije ogromno nalaziste nafte.

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    2. Videces za 5-6 God.

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    3. Decko, da bi se (u Evropi, ne u UAE), punilo 30 sirokotrupnih aviona koje si naveo, treba ti za svaki bar 3 manja aviona za feeder, sto ce reci 90 kom, a ti pises ovde 23.
      Drugo, 4 razna tipa i proizvodjaca sirokotrupnih aviona, a od svakoga po 5-6 komada u proseku totalno povecava troskove i totalno je neisplativo.
      Trece, kao sto rece Bin Zayed gore, Srbija nema ni nafte, a ni turizma, ni industrije, ni standard, ima samo puno ljudi koji o sebi i "svojoj" kompaniji imaju mnogo dobro misljenje koje odstupa od svake realnosti. Pa covece ni sarmama ni burekom ni lou-kost promotivnim cenama JU puni pola aviona, sa ogromnim troskovima.
      Ti ocito ni o avijaciji ni o ekonomiji nemas pojma, ali je to zapravo jako dobro jer se ljudi ovde mogu od srca nasmejati ovim tvojim glupostima koje pises. I budi srecan ako se Arapi uskoro ne povuku i ako ova kompanija uopste prezivi i dozivi da uopste bude fider Etihadu, Er Berlinu i mozda Alitaliji.
      Aj, cao, laku noc !

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    4. Jel' na slikicama?
      'Oce li mrmot posle u slikice da uvije cokoladu?

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  11. čovek držao spojene vrhove prstiju pa osetio iznenadan nalet SNS euforije i energije. U SNS lete i bez aviona.

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  12. Vueling Zagreb-Rome FCO, 2 weekly: Thursday and Sunday, from 26th June.

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    Replies
    1. At least some lines opening from Zagreb, otherwise it has been so pathetic.

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  13. Here are the foreign flights that have gotten regulatory approval for this summer:

    http://www.b92.net/putovanja/vesti.php?yyyy=2014&mm=03&dd=27&nav_id=829400

    Turkish has a two month temporary permit for the Istanbul-Madrid-Belgrade-Istanbul cargo service

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    Replies
    1. Hahaha, June will be funny to watch, let's see how TK's gonna deal with the possibility of loosing all their summer bookings at the risk of being denied rights from June, in the middle of the summer season.

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    2. Haha that would be excellent! That would be the best time for Air Serbia to force it's way back into IST. I am sure that a few landing slots would magically be found at IST if the need arises then.

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    3. But for sure you will not allow those flights. One can see how brave you were in first case. Turkish has up to 5 flights a day to IST, Air Serbia not a one. And you can be so brave here in blog, but in reality you are not even little pussy, but little mouse.

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  14. http://www.planepictures.net/netsearch4.cgi?srch=YU-APG&srng=2&stype=reg

    YU-APG

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  15. http://www.flickr.com/photos/gooneybird29/13437471834/

    YU-APA

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  16. This comment has been removed by the author.

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