Serbia to set up new flag air carrier to replace JAT within month.

By bne IntelliNews January 19, 2012
Serbia will set up a new flag air carrier, restructuring its troubled JAT Airways, within a month with the help of business people, news agency Tanjug quoted infrastructure minister Milutin Mrkonic as saying. This process should be definitely completed by the end of the current government's term in office, Mrkonjic told reporters in Belgrade. The government's four-year term is due to expire in July. According to Mrkonjic, the new company will take over the fleet and part of the employees of JAT but not over its debt. Serbia's second attempt to find a strategic investor for JAT failed last year when Latvia's Baltic Aviation Systems has pulled out of talks with the government on setting up a joint venture to succeed JAT Airways. Serbia decided in April 2011 to create a new company that will become a national air carrier together with a strategic partner.

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