Details regarding MAT takeover

Legal team to prepare MAT takeover details in 2 weeks
Jat Airways CEO Saša Vlaisavljević says that the company is discussing a strategic partnership with Macedonia’s national airline, MAT. Yesterday, Vlaisavljević said that two day talks are under way in Skopje. Due to the fact that MAT has debt to Jat Airways amounting to 10 million US Dollars, the Serbian airline had proposed taking a stake in the company as compensation. “The next step is forming a joint team to precisely establish all the reciprocal outstanding debts, while, at the same time, a joint legal team will look into potential forms of cooperation“, he explained. Jat announced that over the next fortnight a commission, comprising of experts from the two airlines, would draft a proposal determining the size of Jat’s controlling stake in MAT on the basis of money owed. Vlaisavljević noted that Jat Airways owned a subsidiary in Macedonia, Aeromak, which could play a major role in the event of an agreement being reached with MAT, as, under Macedonian law, Jat could hold a maximum stake of 50 percent, minus one share, in the Skopje-based airline.

Jat also confirms that MAT’s aircraft could from now on be serviced at Jat Tehnika in Belgrade while MAT’s pilots and cabin crew could also be trained in Serbia.