Three public companies - Airport "Beograd", Petroleum Industry of Serbia (NIS) and "Telekom" are willing to buy surplus office space of "Jat Airways" and thus help the only local air transportation company collect some funds and avoid bankruptcy.
This offer has already been presented to the management of "Jat", but its reaction was not positive since this company still hopes to get subventions from the budget.
Aforementioned public companies are willing to pay about 35m EUR for business buildings of "Jat" in Belgrade,
London, Ljubljana, Milan, Amsterdam and Athens. The first half of that amount would be paid immediately, while the rest would be paid in installments during the year 2009.
The Government of Serbia's idea is to start restructuring "Jat", of which number of employees is necessary to be reduced, so that the money from the sale of real estates could be used for stimulative social program, while the rest of the money would be spent on rehabilitation of the fleet. The Government is ready to provide guarantees to "Jat" that several airplanes of the appropriate class and size for the needs of regional transportation will be bought on leasing at the beginning of the next year.
The value of "Jat's" property at the end of year 2007 amounted to 162.6m EUR, while its debts amounted to 247.4ml EUR. The five most significant facilities owned by "Jat" are: Business center in Arts Boulevard in New Belgrade, TRansportation Technical CEnter, the building of School center, the building of Flying operative and office space in Kralja Milana Street in Belgrade (800 square meters).
"Jat" also owns land at 3,815,313 square meters, 3,490,105 square meters of which is building land, while the rest is agricultural land.
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