Jat: MAT takeover imminent

MAT’s CRJ900 – currently stored in Ljubljana

Despite MAT recently being grounded by aviation authorities in Macedonia, Jat’s CEO has confirmed that the Serbian carrier will take over shares and revive the national Macedonian carrier. Jat’s team of legal experts are currently in Skopje where they are checking MAT’s legal and financial documentation. These checks should be complete within a week. The findings will be presented to Jat’s management board, after which, the Serbian carrier will send MAT a proposal whether it will take over a majority of shares (over 50%) or less than 50% of shares. The documentation checks have taken longer than expected because MAT did not immediately provide all the necessary paperwork. Also, Jat’s legal team requested more information regarding MAT’s financial reports. Jat’s CEO confirmed that MAT has extreme debt but declined to comment further. He stated that Jat is primarily interested in the Macedonian aviation market which is covered 35% by MAT, while Jat has a share of 10% in the market. “We are also interested in commencing flights from Belgrade and Skopje to Priština through MAT”, Saša Vlaisavljević, the airline’s CEO says. Jat is currently banned from flying to Priština due to the unresolved status of Kosovo in which Priština is located.

Meanwhile, the airline’s inaugural flight to Abu Dhabi on May 5 was a great success with Jat’s Boeing B737-300 awaited by water cannons and Abu Dhabi Airport CEO upon landing. Vlaisavljević confirmed that one of Jat Airways’ Boeing B737-300s has returned to the carrier after a 5 month lease to Air Ivorie. The aircraft registered YU-ANV, has returned after serving in the Ivory Coast and is still wearing the Air Ivorie livery (titles). The Serbian Government has also said it will speed up the restructuring of the airline after it passes a major economic stimulus package, which should combat against the global financial crisis in Serbia, later tonight.