Jat Airways, Airbus revive 11-year-old contract

Serbian national air carrier Jat Airways and Airbus aircraft manufacturer signed a letter of intent in London on Tuesday.

Izvor: Tanjug

Wednesday, 21.07.2010.

09:17

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Serbian national air carrier Jat Airways and Airbus aircraft manufacturer signed a letter of intent in London on Tuesday. This is seen as the first step in fulfilling an aircraft purchase contract signed 11 years ago, Jat General Director Srdjan Radovanovic explained for Tanjug news agency. Jat Airways, Airbus revive 11-year-old contract Jat Airways signed a USD 580mn contract to buy eight Airbus aircraft in 1998. They deposited a USD 23.5mn advance, but then discovered that the contract would not have been profitable for the Serbian company, so the issue was left unresolved for years. Radovanovic stated that the two companies "have found common ground and moved on". "The letter of intent will be followed by other steps to more or less fulfill the old contract," said the Jat director. Airbus Vice President for East Europe Andreas Kramer told Tanjug that the company was pleased with the fleet modernization agreement reached with Jat. Airbus puts a lot of emphasis on Serbia and Jat and believes there is great future for both, said Kramer, adding that the company was very happy to be able to help modernize the Jat fleet. "The Tuesday agreement is a kind of a working program to determine the way in which to approach the issue and adapt the old contract to the present situation," Kramer explained.

Jat Airways, Airbus revive 11-year-old contract

Jat Airways signed a USD 580mn contract to buy eight Airbus aircraft in 1998. They deposited a USD 23.5mn advance, but then discovered that the contract would not have been profitable for the Serbian company, so the issue was left unresolved for years.

Radovanović stated that the two companies "have found common ground and moved on".

"The letter of intent will be followed by other steps to more or less fulfill the old contract," said the Jat director.

Airbus Vice President for East Europe Andreas Kramer told Tanjug that the company was pleased with the fleet modernization agreement reached with Jat.

Airbus puts a lot of emphasis on Serbia and Jat and believes there is great future for both, said Kramer, adding that the company was very happy to be able to help modernize the Jat fleet.

"The Tuesday agreement is a kind of a working program to determine the way in which to approach the issue and adapt the old contract to the present situation," Kramer explained.

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