51 million Euros for Jat

Jat investing into fleet, maintenance and “revitalisation”

After several months, the Serbian Government has finally given its backing for banks to issue a loan of up to 51.5 million Euros to Jat Airways. The Serbian national carrier will use 40 million Euros to “revitalise” itself, 9.5 million for fleet maintenance and 2 million for the lease of 2 Boeing B737-700 jets, the “Tanjug” news agency reports. Jat applied for the loan earlier this year but it took more than 6 months for the Government to give guarantees to the banks that are issuing the loan. The loan can be used within the next 6 years.

Jat will use part of the loan for some major changes it is planning to introduce, soon to be exclusively revealed on Source : EXYU aviation news : http://exyuaviation.blogspot.com. Because the loan has just been approved by the Government, the arrival of the first Boeing B737-700 aircraft might be pushed back by several weeks. Furthermore, the Serbian carrier is once again turning to the prospect of transatlantic operations. The last time the airline had such plans was in 2006. It believes that the only way it can resume long haul flights is by strengthening its regional network which is why Jat is signing new code share agreements with both Adria Airways and B&H Airlines.