Breaking news: Jat to buy MAT

MAT soon to become a Jat Airways subsidiary

Serbia’s Jat Airways and Macedonia’s MAT have confirmed, in a joint statement, that the Serbian national carrier will buy a stake in the Macedonian carrier which has recently been struggling with debt and bans. Within 30 days a work group will determine whether Jat Airways will become a majority shareholder of the Macedonian carrier or whether it will have a 49% stake in the airline instead. MAT’s CEO says that this way MAT’s 10 million Euro debt towards Jat will be payed off.

More news regarding the takeover will be published tomorrow.