Jat denies bankruptcy rumors

Jat Airways denies that it is on the verge of bankruptcy, stating that the situation in the company is stable. In a statement, Jat says that it will be scaling down its operations in the next two months in order to stay competitive, at a time when kerosene prices are soaring on world markets. Jat denies bankruptcy rumors The number of representative offices abroad will be significantly reduced, as will the number of delegated company officials. Management salaries will be cut by up to 15 percent, while the vehicle park will also be scaled down, the statement adds. As far as cuts in services offered by the company are concerned, Jat states that these will only affect catering. Jat’s commercial activities are being intensively discussed with about 10 airlines from the region and Europe with a view to sharing certain routes, which would considerably cut costs in this area and increase competitiveness. The company points out that 2008 was the best financial year for the company since 1990, with passenger numbers increasing by 9.5 percent, and higher passenger density than in the previous year.

Jat denies bankruptcy rumors

The number of representative offices abroad will be significantly reduced, as will the number of delegated company officials. Management salaries will be cut by up to 15 percent, while the vehicle park will also be scaled down, the statement adds. As far as cuts in services offered by the company are concerned, Jat states that these will only affect catering.

Jat’s commercial activities are being intensively discussed with about 10 airlines from the region and Europe with a view to sharing certain routes, which would considerably cut costs in this area and increase competitiveness.

The company points out that 2008 was the best financial year for the company since 1990, with passenger numbers increasing by 9.5 percent, and higher passenger density than in the previous year.