Friday, December 5, 2014

Four companies vying for Aviogenex stake

From Switzerland to the UAE - four companies seeking Aviogenex shares

Four companies from four different countries have expressed interest in purchasing a stake in Serbia’s struggling charter airline Aviogenex. It comes after the government put up 502 state-owned companies for sale in August. JetVision Balkan from Serbia, GLT Overseas (Middle East) FZ LLC from the United Arab Emirates, Euroswiss Investment Holding from Switzerland and Arctica Airlines from Russia have all submitted letters of intent for the purchase of Aviogenex, once Yugoslavia’s busiest charter airline. JetVision Balkan, based in Serbia, is tipped to have expressed the greatest interest in the charter carrier. While the company is not listed in the Serbian Business Registry, it is believed to be part of the Dutch-based JetVision group which specialises in VIP, group and cargo charters as well as solutions for private, corporate and governmental air operations.

Other bids for Aviogenex include GTL Overseas (Middle East) FZ LLC from Dubai. The company operates as an information technology solution provider, primarily in the Middle East. It offers software development, network engineering and various information technology services. From Switzerland, Euroswiss Investment Holding aims to purchase and sell stakes in companies of any kind. It is looking to invest in Aviogenex and then sell it at a much higher price than originally bought. Finally, little known company Arctica Airlines, registered in Russia, has also expressed interest in Aviogenex.

Prior to the break-up of Yugoslavia, Aviogenex was the busiest charter airline in the country, handling over half a million passengers per year in the late 1980s. However, the carrier has fallen on hard times with a single and aging Boeing 737-200 jet grounded at Belgrade Airport and a handful of employees. The four submitted bids represent the most serious chance yet for Aviogenex to be revived, however, employees remain sceptical that any of the bids will be approved by the government. The airline currently employs seven pilots, seventeen crew members, twelve ground engineers and four flight dispatchers, who have not received their wages in months. They will be staging a protest outside the Serbian Government next Tuesday over their unpaid salaries. Aviogenex was set up in 1968. In 1990, its busiest year, it handled 633.932 passengers with a fleet of ten aircraft.

81 comments:

  1. Can someone explain why so many companies are interested in Aviogenex. I just don't get it? o.O

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    Replies
    1. I am afraid the reason is they are 'investors', not investors.

      Jat was lucky that Etihad was there to think over the entire partnership deal. Aviogenex, on the other hand, solely depends on the capability of Serbian government to think of something smart.

      Which means they are already dead.

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  2. OT: Air Croatia suspended flights to Rome and Prague before they even started. New date is 1.3.2015.

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    1. Nothing unexpected, another delay, I doubt they will ever take it to the sky.

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    2. LETOVI AIR CROATIE PROLONGIRANI DO 1.3.

      Prodaja je bila vrlo loša za prosinac, siječanj i veljaču, te je 80% prodanih karata bilo nakon 1. ožujka, dočim se kompanija odlučila prolongirati letove nakon tog roka. Vrlo loše za image i business. Mislim da ih nitko neće doživljavati ozbiljno sa već drugim prolongiranjem.

      Oni koji su kupili karte do 1.3. dobit će potpuni povratak novaca i gratis 2 karte tijekom ožujka.

      PRG se puni većinom sa koreancima i japancima koji se konekriraju na Korean. Od 1. ožujka kreću sa ZAG-BUD i to sa tri dnevna leta. Ovo je protiv pameti. Totalno. Dva dnevna leta su OK, tri stvarno nemaju smisla. Razmišljaju o uvođenju Geneve, Milana i Nurnberga.

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    3. Sorry ovaj post iznad je moj

      Purger

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    4. Da li to znaci da ce letovi za PRG krenuti sada u Decembru ili su i oni pomereni za januar?

      Delete
  3. What does any company stand to gain from purchasing Aviogenex? There is no room in Serbia for another airline, unless they somehow decided to turn it into a low-cost/charter airline. Even then, there is so little money in Serbia for the aviation industry as what there is, is being pumped into JU. Better to just let it die and say goodbye.

    NS|SAN

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    1. There IS room ,still,in Serbia for charter,low cost or cargo airline,not necessery to be competence for AS,and that IS a chance for AGX

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    2. I doubt it. The government still practices too much protectionism around JU, and if the airline was to be based in BEG, then its highly unlikely that they would also get the airport fees waived just like JU does. At the same time, I don't think they would be making enough money to be able to survive in BEG without some sort of government help. Nis is another option but then that would require subsidies ala Wizz or Ryanair which the city doesn't have money for.

      Believe me, I think another airline in Serbia would be really good because competition and variety are beneficial to passengers from a travel and economical perspective. I just think we are too small of a country and the region is too packed for such a move.

      NS|SAN

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  4. OT
    UT Air Ukraine je vratila ovaj tjedan 3 ATR 72-500 lessoru.
    je to interesantno za JU?

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    Replies
    1. trebao bi. ionako nisu mnogo stari (2-3 godine)

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    2. Er Srbiji su strogo potrebni jos avioni

      NS|SAN

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    3. It is actually five:

      http://www.avianews.com/ukraine/2014/11/25_utair_atr72_bye_bye.shtml


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    4. Perfect opportunity for JU. 5 ATRs and a few more airbuses, and they will be ready for this summer.

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    5. Sorry to disappoint you, it's not the Atr-42.

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    6. @7:49
      wtf man?

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  5. Easy like this there will be no buyer anymore for Croatia Airlines .By the way is their Ceo still the same Mr.Kucko .If so now I understand why no interest for take over

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  6. Why not just let the company die already, it's not like the employees are getting paid anyway, so nobody will actually lose anything.

    Charters will continue to be served by Aviolet, and if a very strong demand exists for ad hoc charter service, a private company will eventually pop up similar to Trade Air in Croatia.

    Either find a buyer, or let the company die. The government doesn't know how to run an airline, so they should leave it to the private sector.

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  7. Anybody who has more information, can you please share:

    What state is YU-ANP, Aviogenex's 737-200, in? I know that often the employees at Aviogenex will repeat their maxim of "the plane has plenty of time left on the airframe", but is it even flyable?

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  8. Uvvek je dobro imati nade za opstanak Avio Genexa. Svaki investitor zna svoj interes. Sto se tice drzave, ovaj liliputanski avio carter joj ocigledno nije ni pod razno po vaznosti. Mnogo je ruku, za sve posla nema, dosta je usta a nijedna nesmeju biti gladna. Stotine firmi sirom zemlje decenijama ne rade a vlasnik "nije" bankrotirao!?. Ludi koji dugo, dugo ne rade, traze ono sto su zaradili a nisu dobili isplatu. Traze novac i za vreme dok kompanija ne bankrotira... Naravno Srbija je poznata po "samo-upravljanju", "snalazenju", brozo-alahovim zakonima gde do skora vlada "igranka bez prestanka". Do skora je bilo da nema bankrota. "No pasaran". Tek odnedavno mala grupa politicara pocinje da dosta ozbiljno razgrce strasni nagomilani galamatijas jada... Ostaje nada i zelja jedna od kompanija otkupi AGX sa zaposljenima, a eventualno prosiri biznis sa avionima od 15 do 20 putnika. Makar to bili Svajcarski jedno mottorni Pilatus-i, koji se dosta upotrebljavaj po svetu za intra-lokalni saobracaj., Sa njjima bi se moglo ekonomski leteti po malim aerodromima Srbije,Republike Srpske, Crne Gore, BH.Federacije, Kosova,Makedonije, Albanije, Grcke, Bugarske... Sansa postoji ukoiko se poklope interesi onih koji ulaz novac i onih koji odobravaju formiranje sa rastom novog preduzetnistva Hoce li Srbija nastaviti putem koji deklarise? 2015 godina ce to potvrditi. Nada zadnja umire. Covek nikada!.
    Rod & Ass. people. Kraljevo /// Sydney.

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  9. Euroswiss Investment Holding is a ghost company and should not be taken seriously.

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  10. As many companies for "Smederevo".

    Chicks from Latvia coming to Dubrovnik is real news for today.

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  11. What interests me is who are these seven pilots that still "work" for them. As far as i know there is not shortage of work for qualified pilots on the open market. Is it possible that they are on the payroll just because of the pension and stuff and they are actually flying for somebody else in the meantime.

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  12. OT. BEG 314.696 +25

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    1. Great, but November is still a much slower month than October, not even say about summer months.
      This is btw the first month where Air Serbia is competing against itself, what (together with December) should be a benchmark of what to expect for the coming year, i expect growth of about 20-25%.

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    2. So we can conclude BEG will handle about 4.7 million pax this year, since i doubt December will be slower than October.

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    3. The real jump is in cargo and post, +38 and +44% handled respectively.

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    4. Also, the 25% increase comes on the back of 19% increase in capacity which means that the loads are getting higher.

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    5. BEG will definitely reach 4.6 million this year, especially since this December we will see a new destination and additional frequencies being added onto the airline's regional network.
      Growth next year will be more modest, that's for sure, but I am still hoping for at least 5 million passengers.

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    6. Aegean is sending its A320 again today! Good for them, I hope the loads are equally good.

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    7. Air Serbia's flight to Athens had a loadfactor of about 65% yesterday, both ways.

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    8. They have also sent the A320 to OTP, I hope it's not for the same reason as the 733 to LJU the other day.

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    9. 5 million the next year is a very conservative estimate, numbers should be closer to 5.5 million at least.

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    10. It may seem far-fetched but my projection is 5.87 million for the next year.

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    11. Sorry to disappoint you but next year will not be marked by major growth especially since several night flights will not be reinstated until late next year.

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    12. There's no way to disappoint me since i give no emotions to that. It is based on pure logical calculations and a heuristic approach. End of discussion.

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    13. BEG ce sledece godine imati od 5.5- 6 MIL putnika.
      Jos sledece godine kad krenu nove Destinacije i kad stignu novi Avioni to ce se lako postici.
      INN-NS

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    14. Well, your logical calculations are flawed and do not tuned to reality. End of discussion.

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    15. *are not tuned

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    16. The problem with JU is that we are four months away from the beginning of the winter season and they need to make announcements soon if they plan on selling those extra seats (if they really are adding more flights and planes). Let's also not forget that they need at least 3 A319 to replace the ageing Boeing birds. I hope that their future growth will not happen thanks to the B733.
      Furthermore, most travellers book their summer flights during the months of February, March and April. That's when their summer timetable has to be up and running.

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    17. "four months away from the beginning of the winter season" wtf?

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    18. @7:44
      Your comment is so full of hatred... You can't know if BEG will handle more than 5.5 million passengers in the next year, so I don't see your freakin' problem. ASL will get 3-4 more ATRs and A319s, and they are gonna expand their network, if I am not mistaken next new destination is gonna be PRN, maybe somewhere in February or March. Also, flights to the US should start next year, and they will bring some passengers, so, sorry to disappoint you, but BEG has chances to handle much more passengers in 2015 than you are claiming.

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    19. Let's wait and see who was right and who was wrong. ;)
      Flights to the United States will not happen before 2015 winter season. Also, no new aircraft will join the fleet before April.

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    20. Pa kad krenu letovi za Kinu i USA rast ce biti sigurno oko 25-30 posto na aerodromu a za Kinu se krece mozda cak i pre leta.
      Ja mislim da je cak i moguce da ASL preveze sledece godine i 2.7 milliona pax sta misle ostali koliko ce ASL prevesti putnika sledece godine.
      INN-NS

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    21. Trenutno se ne radi na letovima za Kinu vec na nekim drugim stvarima koje su vezane za Peking i Sangaj. Molim odredjene ljude ovde da ne sire dezinformacije. Hvala.

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    22. Ja sam rekao Kina zato sto me je mrzelo da pisem PEK-PVG:
      A da necete gospodine reci da je i dezinformacija da ce doci u Martu-Aprilu ;)
      INN-NS

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    23. A da necete gospodine reci da je i dezinformacija da ce doci A330 u Martu-Aprilu ;)
      INN-NS

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    24. A330 nije jos potvrdjen, njegov dolazak je vezan za uspostavljanje letova ka SAD. Nije dezinformacija da dolazi vec datum njegovog dolaska nije jos potvrdjen.

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    25. Znaci moje veze su mi rekle istinu u ASL znaci negde Mart-April dolazi hvala sto ste potrvdili ovim Anonymousi.
      INN-NS

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    26. Kao prvo, ja nisam potvrdio nista sta si ti rekao, ja sam ti samo rekao da ce ti A330 doci kada letovi ka Americi postanu izvesni. Za sada jos nisu. JU ih nece nabavljati samo zbog letova ka Kini, posebno sto se za sada letovi ka Kine ne razmatraju, barem ne dovoljno ozbiljno.

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    27. Meni su moji izvori rekli da se prvo krece za PEK-PVG A330 dolazi Mart-April a posle pred zimu USA.
      INN -NS

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    28. Nazalost tvoji izvori nisu pouzdani.

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    29. koji je INN bot! THIS IS THE FREAKEN 6th or 7th time he has wrote about A330 coming to ASL. PLEASE STOP IT!! I will be deeply dissapointed if the admin deletes this msg!

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    30. To je nemoguce posto to njih 10 iz ASL potvrdjuje ako mi neverujete pitajte nekoga pa budite iskreni nemam potrebe da lazem posto bi onda ispao glup.
      INN-NS

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    31. Anonymous at 10:58 PM
      Izvinjavam vam se ali i meni ovde smeta kad se prica samo o subvencijama po 100 put pa se nezalim nikome.
      INN-NS

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    32. Hahahaha eto nesto i mi ovde u Abu Dabiju da naucimo od INN-a. U nedelju na poslu prenecu im. ;)

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    33. Ti se ne zalis nikom? HAHAHAHA ok mali.

      Delete
    34. Anonymous at 11:18 PM
      Posto kazete da radite navodno za JU u kom hotelu odseda poseda JU u AUH ;)
      INN-NS

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    35. Anonymous at 11:18 PM
      Posto kazete da radite navodno za JU u kom hotelu odseda Posada JU u AUH ;)
      INN-NS

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    36. Ja nikada nisam rekao da radim za JU vec za EY. ;)

      A to gde odseda posada JU ti nije merilo posto oni postuju tonu slika po drustvenim mrezama. Ja se iskreno nadam da izvori iz kojih crpis informacije nisu kabinsko osoblje.

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    37. Pa izvinite onda.
      Nesto su Piloti a moj Stric je isto nesto cou od ljudi iz uprave.Ja ih znam netreba mi drustvena mreza.
      Posto vi radite za EY ajde nam vi recite kad se krece ja vas molim ako tvrdite da ja sirim dezinformacije pa nam vi recite kad se tacno krece ;) molim vas.
      INN-NS

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    38. Pre nego sto pises, zasto prvo ne procitas sta sam gore napisao. Dolazak sirokotrupnih aviona u Beograd iskljucivo zavisi od toga kada se planiraju letovi ka severnoj Americi. Kao sto sam rekao, ja ne radim za JU te ne znam tacno dokle se stiglo. Kada sam pricao sa kolegama receno mi je da su tek u fazi pregovora i da ima jos puno toga da se odradi i mnogo prepreka koje moraju biti prevazidjene.

      Dakle, sve u svemu, tacan datum jos ne postoji i niko ne moze da tvrdi tacno. To da A330 dolazi u martu ili aprilu nije tacno, barem ne ovde u centrali.

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    39. A prenesi stricu da kaze prijateljima iz uprave da narod u ASLu dobija otkaz kada siri poverljive informacije. Posebno sto ti siris sve to na sva zvona i tako kompromitujes ljude.

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    40. Anonymous at 12:03 AM
      Dobro mozda je to istina ali ipak ja se nadam da ce to biti Mart-Aprillu videcemo ko je bio upravu na kraju. Otkud to da je EY otkazao 789 da leti za DUS u poslednjem trenutku jel kasni isporuka ili je nesto drugo :). Da nece EY poslati jednom A380 za BEG bilo bi odlicno zbog saradnje sa ASL
      Anonymousat 12:06 AM
      To mozda obicni ljudi dobijaju otkaz .
      Ne bojte se za njih oni i dalje sede na svom poslu i primaju platu.
      INN-NS

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    41. HAHA airbus 380 to BEG! Admin plz ban this guy!!! I suppose we should make a petition to ban this idiot from the site

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    42. 2013 = 3.5
      2014 = 4.65
      2015 = 5.8
      2016 = 6.9
      2017 = 8
      2018 = 9
      2019 = 10

      Delete
  13. Najbolja opcija za AGX je da ih kupi GLT Overseas, da oni nemaju slucajno neku vezu sa Fly dubai-om posto isto imaju skracenicu FZ.
    JetVison-ov najveci avion je SBJ100 nadam se da oni nece kupiti AGX posto nebi obavljao normalan putnicki charter saobracaj.
    Arctica Airlines je najgore moguce resenje posto imaju ako sam nasao dobru kompaniju samo AN-26:
    Euroswiss Investment Holding je isto lose resenje.
    Nadam se da ce ih kupiti GLT Overseas i napraviti nesto kao Srpski HG ili BY( naravno ne toliku flotu da imaju ) npr da imaju 2-3 Aviona.
    INN-NS

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  14. I for one hope there is no 30% growth next year. The airport will become horribly cramped. The airport already lacks shops, cafés and so on. Imagine if you add another 600.000 passengers per annum.

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    Replies
    1. Well, it didn't stop Istanbul growth...

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    2. Istanbul expanded in the meantime. It's not like they didn't do anything as passenger numbers kept on growing.

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    3. Everyone talks that Belgrade airport needs to be expanded. How on earth can they expand if there is no money? Sure traffic is up but my understanding is Air Serbia has it easy there in regarding how much they are charged.Basically a subsidy. Are the foreign carriers going to have their fees raised to pay for expansion? I think they will leave before having increased fees. If it goes to concessions, again the operator will have to increase the fees to even Air Serbia who in turn will have to raise their prices. I think that people feel that ASL should be immune to paying any type of fees to BEG. Expansion will cost money or will the citizens of Serbia have to pay for it.

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    4. BEG still receives money from the airport tax each Air Serbia passenger pays. It's not like the airport has zero income from the airline.
      Plus, wasn't it reported on here that the airport's profits went up by 19% or something?

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    5. All Boeing 737's are planned to fly tomorrow, great way how Air Serbia meant to get rid of them by last summer. I don't mind that but there was no reason to brag about it if you wasn't about to do it.

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  15. It's reported on this blog that Wizz Air and the government should be signing an agreement on Tuesday which would see W6 launch some flights from INI. Will be interesting to see what routes they present.

    http://flyfromnis.blogspot.com/2014/12/u-utorak-potpisivanje-ugovora-sa-wizzairom.html

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    Replies
    1. The other day the airport did lower its passenger tax to just €1 and the CEO of the airport said that flights should start by June 1st.

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    2. The news is everywhere deleted now... hmmm...

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  16. OT:

    Analyzed some stuff. Air Croatia appears as "Hahn Air Systems" on cheapoair.com.

    Anyways, who is willing to book with them when they just pushed back operations by 3 months? Did anyone purchase tickets if they were even on sale for the planned December launch?

    Also, Air Serbia is offering 196 USD tickets for Zagreb - Rome via Belgrade in March, when "Air Croatia" is planning to launch Rome as well as Prague and Budapest. Other airlines are offering around 225 USD+ for RT ticket. Air Croatia on the other hand is offering 400!! Who would fly with them? Are there that many business people that would pay double for a direct flight?

    Not offending anyone but just trying to see the likelyhood of Air Croatia success...?

    Also, didn't look up Budapest prices, but for Prague, Air Serbia offers cheapest at 236, other airlines from 300, and around 400 for "Air Croatia"!?

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  17. Nikola Tesla Beograd
    2013 = 3.5
    2014 = 4.65
    2015 = 5.8
    2016 = 6.9
    2017 = 8
    2018 = 9
    2019 = 10

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    Replies
    1. E jebga sad preterao si malo, to moze da se ostvari samo ako T3 krene da se gradi u 2015-2016. i ASL krene da siri masovno pa da 2020. ima flotu od 70 aviona..

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    2. JU will receive 10 A320 neo starting 2018-2020. I think that Serbian Government will only expand airport with minor investments in next 2 years to cover capacity up to 10 million, until permanent and long term solution is found, with investors...
      If you really look in growth it is not that agresive, it declines every year by several % levelling in at 9% in 2019. Adding million passengers every year going forward in my opinion is possible.

      Delete

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