Union: No bids in Jat Airways tender
Jat Airways Union representatives say that no company has bought the tender documentation for the sale of the national carrier.
Saturday, 27.09.2008.
16:46
Jat Airways Union representatives say that no company has bought the tender documentation for the sale of the national carrier. The Privatization Agency and the Ministry of Economy officials would neither confirm not deny this. Union: No bids in Jat Airways tender The deadline to buy the tender documentation expired on Friday, Sept. 26 at midnight. The ministry did however say that "technically, it is possible that an offer sent by mail on Friday afternoon could still arrive". Aeroflot, Air Berlin, Air Iceland and Air India were all mentioned earlier in the summer as the possible buyers. The Ministry of Economy said in June that the starting price for Jat would be EUR 150mn for 100 percent of its capital. But, by July 31, when the tender was at last called, the minimal price for a 51 percent stake was set at EUR 51mn. This price was determined on the basis of the data submitted by the company itself, with no independent auditing. The Union now blames the world market trends and the state's irresponsible behavior for the drop in the value of Jat Airways.
Union: No bids in Jat Airways tender
The deadline to buy the tender documentation expired on Friday, Sept. 26 at midnight.The ministry did however say that "technically, it is possible that an offer sent by mail on Friday afternoon could still arrive".
Aeroflot, Air Berlin, Air Iceland and Air India were all mentioned earlier in the summer as the possible buyers.
The Ministry of Economy said in June that the starting price for Jat would be EUR 150mn for 100 percent of its capital.
But, by July 31, when the tender was at last called, the minimal price for a 51 percent stake was set at EUR 51mn.
This price was determined on the basis of the data submitted by the company itself, with no independent auditing.
The Union now blames the world market trends and the state's irresponsible behavior for the drop in the value of Jat Airways.
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