Ministry of Infrastructure and Energy of Serbia has announced today a public call for joint investment investor in the new airline company (NewCo.).
The condition for participation is purchase of the contest documentation by the price of 10.000 eur.
All airline companies are eligible for participation, as well as financial investors with at least 5% investment in the airline transport.
All interested companies and consortiums will need to provide the proof that they have made over 1,5 million passangers turn over in 2010 and that their consolidated balance has been larger than 200 million EUR.
Contest documentation will be available to strategic partners at the new airline company starting from August, 1st and the delivery deadline for applications will be September, 30th.
In the program of Deloitte Consulting Agency, which was accepted on July, 26, by the Government of Serbia, there is an optimal model for formation of the new airline company as a dependent party of Jat Airways, with obligatory money participation of 400.000 EUR.
After transmission of propery and rights, the owner's share of Jat Airways at the new airline company should be passed to the Government of Serbia, and afterwards the investor continues with capitalization of the new airline company in the agreed amount.
It is also planned that the new airline company should start working by the end of this year. The goal is to make it competitive for the European market and allow it to do business with dependents and companies related to Jat Airways.
The Government of Serbia has adopted on April, 16, 2010, the Decision of formation of the new airline company, after the work group for Jat's business consolidation and the company's management estimated that the company doesn't have conditions to work profitably.
On the first public sale of Jat Airways, in 2008, when 51% of the company was offered by the price of 51 million EUR, there hasn't been offers.
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