Govt. to invest USD 400,000 in new airline

The Serbian government plans to invest USD 400,000 in a new airline to take over from Jat Airways as the national carrier. This is according to State Secretary for Air Traffic in the Ministry for Infrastructure Miodrag Miljkovic. Govt. to invest USD 400,000 in new airline According to the law on air traffic, any airline that wants to engage in regular traffic must have USD 400,000 in its account, he said. The amount of USD 400,000 is needed for regular traffic and USD 200,000 for charter traffic, he added. Miljkovic said that he does not yet know how the capital of the new company will be shared with the potential strategic partner. However, the state will probably not have the greater share, he said. Media have reported that Turkish Airlines has proposed to the Serbian government to create a new airline to be called Air Serbia. According to these reports, Turkish Airlines is ready to exchange 10 new planes for 51 percent ownership of the new company. Jat Airways, with its large debt, would then announce bankruptcy, according to media speculations. Meantime, the company said that its latest losses, due to reduced flights on Friday, Saturday and Sunday, amount to EUR 900,000.

Govt. to invest USD 400,000 in new airline

According to the law on air traffic, any airline that wants to engage in regular traffic must have USD 400,000 in its account, he said.

The amount of USD 400,000 is needed for regular traffic and USD 200,000 for charter traffic, he added.

Miljković said that he does not yet know how the capital of the new company will be shared with the potential strategic partner.

However, the state will probably not have the greater share, he said.

Media have reported that Turkish Airlines has proposed to the Serbian government to create a new airline to be called Air Serbia.

According to these reports, Turkish Airlines is ready to exchange 10 new planes for 51 percent ownership of the new company.

Jat Airways, with its large debt, would then announce bankruptcy, according to media speculations.

Meantime, the company said that its latest losses, due to reduced flights on Friday, Saturday and Sunday, amount to EUR 900,000.