<center>Jat denies bankruptcy rumours</center>

GLOBAL AVIATION NEWS

Condor makes Airbus order

German leisure airline Condor said it would order sixteen Airbus A330neo jets to replace its existing wide-body fleet of Boeing 767 aircraft. "The first aircraft is expected in autumn 2022, whilst the replacement of the entire long-haul fleet is scheduled to be completed by mid-2024. As the German launch customer for the Airbus A330neo, Condor is thus focusing on latest technology, maximum efficiency and the highest level of customer comfort", Condor said. It did not say how it would acquire the planes but market sources said it was expected to buy an unspecified number from Airbus with the rest to be rented from leasing companies. The deal comes a day after EU regulators approved 525.3-million euros in German aid for Condor that will help the airline restructure after an earlier decision was annulled by a European court. It follows a competition between Airbus and Boeing to provide the A330neo or Boeing 787 to Condor, the sources said. Condor has a mixed fleet of planes from both planemakers but relies solely on its ageing 767s for long-haul needs. The A330neo is an upgraded version of the A330 passenger plane with recent Rolls-Royce RR.L engines. It competes with the newer but more expensive Boeing 787 Dreamliner. Sources said the deal will provide a home for undelivered A330neo jets originally earmarked for Indonesia's Garuda or Malaysia’s AirAsia. Both carriers are debt-strapped and their finances have worsened during the pandemic, raising doubts over A330neo deliveries. Airbus is also in talks to replace Boeing jets at another European leisure carrier, British airline and holiday group Jet2. If confirmed, the deal could involve the purchase of around 50 Airbus jets, worth some $5 billion before industry discounts of at least 50%. But while Airbus is seen as a front-runner, talks between Jet2 and suppliers are said to be ongoing.
Source: Reuters

Jat denies bankruptcy rumours

The management of Serbia’s national carrier has denied claims that the airline is on the brink of bankruptcy as speculated in some Serbian tabloids after yesterday’s cost cutting measures were announced. The airline’s management has said business is as usual and is reminding that 2008 will, in passenger terms, be the most successful year since 1990. The airline did confirm it will be decreasing its fleet however they remind people that this is done every winter due to the decrease in frequencies and that the 2009 summer season is already in the planning stages. It has been confirmed that 2 B737-300’s will be leased to an airline in Africa.

Some media have also started questioning if yesterday’s announcement of cost cutting measures is genuine and have actually been introduced to decrease costs. They suggest that Jat’s management is actually preparing the airline for an unsuccessful privatisation and that way it will be able to fire as many as 800 people under the explanation it is due to the financial state of the airline. Further adding to the argument is an announcement less than a month ago from Jat’s CEO that the airline will have a healthy profit by the end of December 2008.

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