Turkish Airlines confirms interest in Serbian flag carrier.

By bne IntelliNews May 18, 2010
Turkish Airlines is interested in the potential acquisition of Serbian flag carrier JAT and Poland's LOT, the company's CEO Temel Kotil confirmed. He stressed that Turkish Airlines has serious expansion plans and that it intends to explore opportunities during the ongoing consolidation of the aviation industry. Turkish Airlines CEO also noted his company was not interested in other air carriers in Eastern Europe except for LOT and JAT. The government had said it planned to set up a new firm that will become the country's air carrier. The move is aimed at attracting potential strategic partners, since the new company would take over JAT's business and part of its assets, while debts would remain in the current company. The government had earlier tried to sell JAT in 2008, offering 51% stake for EUR 51mn, but the tender failed as there were no bidders.

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