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Monday, June 17, 2013

UPDATED
Etihad announces possible equity investment in Jat

Etihad to submit Jat offer in thirty days

Etihad Airways and Jat Airways have held a press conference today, during which the CEO of the national carrier of the United Arab Emirates announced the airline’s equity investment in Jat. The conference was preceded by the signing of a Memorandum of Understanding between Etihad and the Serbian government to explore equity investment opportunities in Jat.

Details of the development were unveiled by Etihad CEO James Hogan and his Jat counterpart Velibor Vukašinmović. Mr. Hogan began by saying, “We are excited about the future and look forward to exploring the possibility of a much deeper strategic commercial partnership with Jat Airways”. He added that Etihad will put forward a proposal to the Serbian government and Jat within the next thirty days. “As we have demonstrated with our minority equity investments in other airlines, significant ongoing savings can be achieved through joint initiatives. These include pilot and crew training, fuel, insurance and procurement and maintenance agreements for common engine types”. Mr. Hogan added that Etihad will now conduct interviews in Serbia with potential employees. “As the partnership between Etihad Airways and Jat Airways deepens, and new codeshare destinations are added, we will see greater numbers of travellers being fed across the two networks. This will increase further with the codeshare between Etihad Airways’ equity parner, Air Berlin and Jat, which will link Belgrade, via Berlin, to Chicago, which has a strong Serbian community. Jat is an airline with a strong history and Serbia is a country with a big diaspora and major tourism potential. That forms the market base. We would not enter discussions if we knew that through restructuring Jat could be successful. We are focusing on returning Jat to profitability", Mr. Hogan concluded.


Etihad recently added its codes on to Jat’s flights to Sarajevo and they will soon be added to the Tivat service as well. Subject to regulatory approval Etihad will also place its own codes on Jat’s services to Amsterdam, Athens, Berlin, Brussels, Copenhagen, Dusseldorf, Rome, Frankfurt, Gothenburg, Istanbul, London Heathrow, Larnaca, Milan, Moscow, Podgorica, Skopje, Stockholm, Stuttgart, Thessaloniki, Vienna and Zurich. Jat recently placed its own codes on Etihad’s service from Belgrade to Abu Dhabi as well as flights to Sydney, Melbourne and Brisbane. Late last week aviation authorities in Kuwait and the Seychelles also approved the codesharing arrangements between Jat and Etihad. The Serbian carrier will further place its codes on to services to Bangkok, Beijing, Chengdu, Colombo, Ho Chi Minh City, Islamabad, Johannesburg, Karachi, Kuala Lumpur, Lahore, New York, Chicago, Shanghai, Singapore, Toronto and Washington D.C.


Speaking at the conference, Jat Airwas CEO said, “It’s is our great pleasure to establish cooperation between Etihad Airways and Jat Airways. We are happy that Jat has been given the opportunity to develop a joint product with the aim of increasing passenger numbers and establishing closer ties between our countries”. Mr. Vukašinović added that Belgrade will become a regional hub thanks to the partnership between the two airlines. “I am extremely proud to be part of this important moment in Jat’s history.

Attending the conference was a group of Australian based tour operators who were flown in by Etihad this weekend from Sydney and Melbourne. Also present were reporters from Australia’s public broadcaster SBS who were interested to learn how the new partnership will better serve the Serbian community in Australia. Serbian media were more interested in the planned 49% takeover of Jat. Mr. Hogan noted that the airline has completed a screening process of Jat with due diligence noting that Etihad has delivered on every promise it has made up until now. “Two months ago we announced a codesharing partnership which is now in place. We announced daily flights from Abu Dhabi to Belgrade which have now been launched. Now we are ready for the next phase”, Mr. Hogan said. He denied claims by the Serbian media that Etihad was angry at the change in management in Jat adding, “The media often has something to say before we do”.


According to previous media reports, Etihad plans to take over Jat on July 15, a month away from now. The airline is reported to be eager to change Jat’s image, brand, introduce new destinations and aircraft. Mr. Hogan referred to Air Seychelles several times noting that by restructuring the carrier Etihad has turned it into a profitable business for the first time. Jat and Etihad will now intensify discussions on collaborative efforts to further integrate their network and help Jat achieve efficiencies, build revenue and reduce costs. Etihad Airways has for the first time today officially announced plans to invest in Jat.

62 comments:

  1. Thank you for the updates!

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  2. Thanks ex YU. great service u provide

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  3. Do we know how many they are? That is the tour operators?

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  4. Is there live stream?

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  5. I guess they are about to start now. Any updates? Are there a lot of people?

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  6. Where are the haters now? Where are the Jatovanje supporters now?

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  7. so...hot steam not more.......just some nice diplomatic words....cooperation and bla bla......still no proposal....on the contrary after screening JU they intend to talk to the government in about 1 month....in the meantime...JAT is in agony....cancelling first codeshare flights to SJJ due to lack of aircraft....great. Etihad pax stranded and layover in Hotel Slavija....

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    1. What are you going on about? They said that in 30 day they will submit their offer to take a stake in the airline.

      "We are now entering a new phase. In the next 30 days we will put forward a proposal to Jat and the Serbian government...'

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    2. What cooperation?! Etihad WANTS to take a stake. It only depends if the Serbian Government says yes or no. And having in mind, that the Government is = Vucic/Dinkic, they will probably say yes, no matter what conditions. Otherwise, I will be pretty surprised.

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  8. HLADNI TUŠ ZA JAT

    Iako se danas očekivalo da će Etihad najaviti preuzimanje Jata, desio se hladan tuš. Hogan je najavio intenziviranje pregovora u idućih 30 dana. Dakle, nešto ne valja!

    Za zaključiti su slijedeće stvari:
    - cijela uprava Etihada došla je u Beograd na tri dana. Spremalo se nešto veliko jer samo radi code-share i nove linije ne bi bili u Beogradu toliko dugo
    - Očito je Etihad u dubinskom skeniranju pronašao velikih problema, a druga strana (vlada Srbije) nije baš voljna pod svaku cijenu ustupiti Jat Etihadu (180 milijuna EUR dugova, otpuštanje 600 ljudi, Jat Tehnika, i tko zna što još što mi ne znamo)
    - prolongiranje preuzimanja sigurno nije dobro za Jat, a možda je dodatni pritisak od strane Etihada, ili pokušaj da se izvuku iz projekta
    - Hogan spominje "strong history", ali na povijesti se ne gradi uspješna kompanija. Indikativno je da je to glavni argument (a ne bi trebao biti argument uopće), spominje se potencijal turizma (to je tek potencijal, ništa stvarno), i tek je jedan jedini argument dijaspora koji je realan, prezentan i stvaran.
    - još više treba brinuti da je fiksni rok (potpisivanje sredina lipnja, preuzimanje u rujnu) pretvoren u "as soon as possible", te da umjesto konkretnih datuma, ciljeva, načina, ugovornih stavki, spominje se da "oni ne bi pregovarali da nema potencijala". To je kurtoazna rečenica, koja ne zatvara vrata, ali ništa više od toga.

    OVO NE ZVUČI DOBRO, nije sve izgubljeno, daleko od toga, no Srbija se mora prestati ku*čiti jer ovo je zadnja šansa za Jat i za srpski zračni promet. Što god Etihad traži mora i dobit. U protivnom će 30 dana postati 60, i nakon toga će Etihad podviti rep i pronaći neku drugu kompaniju koja vapi za malobrojnima poput Etihada.

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    1. У самој Хогановој изјави пише да ће поднети понуду за 30 дана. Не знам шта ту има лоше и не знам о каквом тушу причаш.

      Нико није ништа најавио до сада и то што се очикивало ко зна шта данас је била само спекулација обожаваоца баздухопловства на овом форуму.

      Притом, Етихад је професионална компанија. Сумњам да би Хоган и цео тим, ПЛУС туристички оператери дошли из Аустралије, дошли онако у шетњу. Јатова документација је послата у Абу Даби. Ништа они нису открили по доласку у Београд.

      Невероватно је колико неки људи прижељкују да овај догоров пропадне.

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    2. Postujem tvoje misljenje i slazem se sa dosta stvari koje si naveo, ali mislim da previse kriticno gledas na sve ovo sto se danas dogodilo tj. da si bio previse optimistican. Ti i ja, i svi ostali ovde, dobro znamo da Etihad odavno zna kakvih problema ima u Jatu... I ne verujem da se zbog toga prolongira. Po mom misljenju, verovatno se radi o opreznoscu Etihada pri ponudi. Ja mislim da Etihadu ama bas nista ne znaci da li ce Jat preuzeti sledeceg meseca ili tek u oktobru/novembru. Meni "as soon as possible" zvuci jako pozitivno. Hogan je konkretno rekao da ce dati ponudu i nije spomenuo da postoje nesigurnosti oko toga da li to Etihad uopste zeli. Oni ce sigurno dati ponudu i ta ponuda ce biti bolna (tu ponudu vidim isto tako kao i ti) ali takodje mislim da ce Srbija ovaj put prihvatiti. Bas iz razloga zato sto Vucic i Dinkic stoje iza svega ovoga. Ovo nije cist biznis, ovde i politika ima svoju ulogu. Tako je bilo i slucaju Air Seychelles-a (sto si ti ranije takodje opisao).

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    3. No, teško je u šumi informacija, poluinformacija i dezinformacija koje su kolale medijima i gdje su se «prenosile» informacije na sve moguće načine ustanoviti što je rekao Jat, Etihad, jedan ili drugi CEO, a što je tek pusta izmišljotina ili krivi citat... No, nekoliko je stvari jasno:

      - Etihad jest najavio dubinsko skeniranje koje će trajati do kraja svibnja, te ponudu do sredine lipnja.
      - Dolazak toliko jake delegacije u Beograd i to na tri dana je ukazivao na «veliku vijest», svakako ne na promociju code-share i najavu ponude u roku od 30 dana. Rok ponude najavljuje PR ili niže pozicionirani direktor, sigurno ne CEO.

      I ovdje ne govorim o bombastičnim izjavama Politike, koji su se temeljili na «visokopozicioniranim i dobro obaviještenim izvorima», što sam odmah rekao da su bajke za djecu koje treba uzeti sa ogromnom rezervom.

      Još jednom naglašavam, ovo je neosporno pritisak Etihada na Jat i Srbiju. Ništa više ni manje od toga. Da su dobili ono što su tražili na ovoj presici bi se objavilo preuzimanje. Iz svega vidljivog tako je trebalo i biti.

      No, jednu stvar sam također rekao prije par tjedana. Bog vas je pomilovao po glavi ulaskom Etihad u Jat. Ovu, posljednju priliku, možete uprskati samo vi sami. Upropastilo se toliko dobrih prilika, pa je naš mentalitet svakako u stanju upropastiti još jednu. I stoga svi koji su involvirani u ovaj posao moraju biti svjesni situacije, zadnje šanse koja je došla ne u 5 do 12, nego u 12 i 30, pognuti glavu, pristati na sve i sa 100% iskrenosti uči u ovaj projekt. Od onog malog radnika u Jatu, do direktora koji bi mogao dobiti pedalu ili postati «manje bitan» te slušati naredbe od «tamo nekog» Arapa koji će od njega tražiti malo drugačiji način funkcioniranja od onog na koji ne naučen (nema više sekretarica na službena putovanja u hotele sa 5***** zvjezdica u New York, nema više radnog tjedna od 25 sati, nema više odojaka i janjaca za svaku priliku ili nepriliku, nema više milijunskih iznosa za reprezentaciju, nema više provizija od nabavki...).

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  9. Fantastic news! Thanks for the great work. You were the only website bringing information live.

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  10. Navodno su rečene još tri rečenice koje nedostaju gornjem izvještaju:
    "Ako Jat pređe na komercijalno poslovanje, pregovori bi mogli biti uspešni", rekao je on i dodao da ukoliko nastavi da radi kao komunalno predzueće, od toga neće biti ništa.

    On je rekao da se razgovori mogu nastaviti i da Etihad može da pomogne oko restrukturianja Jata da bi postao profitabilna firma.

    "Rano je za konačnu objavu, ali smo uzbuđeni zbog budućnosti i radujemo se istraživanju mogućnosti za mnogo dublje strateško komercijalno partnerstvo sa Jatom", rekao je Hogan

    Mislim da ovo otvara potpuno novo svjetlo o tome u kojoj fazi su pregovori i što Etihad u stvari želi. Ako su te rečenice stvarno rečene bačena je rukavica u ring Srpskoj vladi.

    ExYU je li ovo rečeno ili ne?

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    1. Sentence "ukoliko Jat nastavi da radi kao komunalno preduzeće od toga neće biti ništa" is very important!

      That is warning and direct blackmail to Serbian Government.

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    2. Yes, it’s a warning to the government that they can’t treat Jat the way they have treated it up until now. People have to understand that with this take over the way the government treats Jat will change dramatically. Also don’t expect to see too many licenses issued to low cost airline when EY buys JU. Also, for all people that don’t get it yet.

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    3. english pls, molim te Purger

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  11. It seems to me like a very elegant way out for Etihad. No doubts, it was very precisely announced many times here and elsewhere that in mid June Serbian Gov. will have take-over bid form Etihad. Today is a mid June. High-ranked delegation arrival from Etihad is facade only, proven with absence of Serbian Gov. officials from media conference. Etihad is postponing take-over bid in elegant manner, being no angry for any Serbian breaches of previos agreement on managerial status-quo in Jat... Mr. Hogan is not only excellent businessman, but obviously above all - gentleman.
    That is my impression only after my personal business negotioation experience. I would like I am wrong.
    Btw, Australians have nothing to do with the whole issue. It`s just Etihad`s (clever and proven) way to promote new destination in the network.

    Once more, I would like so much that I`m completely wrong on tasting this conference`s report.

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  12. Na web siteu SJJ potpuno je ukinut JAT vecernji let, i prebacen je za ujutro u 6:30.

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    1. Demant, moja greska, nije ukinut vecernji let

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    2. Yes, the flight was moved to 05:15 from BEG to SJJ !

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  13. So what actually was said today?

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  14. lol at Croat haters. Absolutely everything that you denied would happen has happened. You first said the code shares wouldn’t happen, then you said the flights to Abu Dhabi won’t happen, then when it was announced EY would takeover JU on 15 July you said it was bullshit and today Hogan said they will do it in a month (i.e July 15 its June 17 today). Keep hating.

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    1. Well it was 15th June to announced not July. That delay is a quesanable and problem. And it is absolutly not true that anyone here said there would be no code-share and not flights to Abu Dhabi. That is lie!!!!

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    2. April 12 - Funny that there is not a single mention of Serbia or JAT in the news section of the Etihad website. It does mention that Aer Lingus will now be using Etihad flight codes on their flights to the US, so the whole Etihad will use JU code in Australia seems a bit ass-backwards to say the least. The reason that there is no mention of serbia or jat on the Etihad page is because they don't want to comment on such bullshit.

      April 15 – “So all was just JATOVANJE and bla bla......a codeshare is just a codeshare and nothing more.......Jat Airways has codeshares with so many other airlines. So this MOU was daydreaming of Mr Dinkic and his fellows”. (from what I see a MOU was signed today)

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    3. MoU was not signed today. It was not! That is a main problem that it was not signed!

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    4. LOL it was! If you don’t believe this site then perhaps you will believe Airfinance journal http://www.airfinancejournal.com/Article/3219537/Sectors/19892/Etihad-signs-MoU-for-Jat-Airways-stake.html Just stop the hate!

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    5. it was MoI not MuO.

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  15. Proposals ...for cooperation...
    Not a single mention of a takeover or minority stake.
    Well people...its clear now -
    They dont want to buy Jat!
    And obviously they never wanted to do it.

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    1. And you firmly believe that just because of the codeshare agreement between Jat and Etihad, they would have sent entire delegation for a 4 day trip to Belgrade?

      I wouldn't say so.

      Personally, my firm belief is that this is the beginning of a negotiation process, which in normal business, always start with a MoI. Don't think Etihad doesn't know what is Jat position at the moment, or their financial reports. They are in this matter for 2 months already. All that bla bla about Jat changing is structure is simply a message to Serbian Government to either sell it to them, or let Jat go into history.

      I guess we shall see good development with this Etihad story. We will all have to wait however.

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  16. Bla bla nothing will happen.
    Even if EY wants to buy Jat.
    The Serbian government seems to have lost interest about selling Jat.
    No wonder as all those political crooks would loose their job then.
    Jat is dying and nothing is gonna to change that!
    R I P Jat.
    Nobody will even recognize that you are dead...

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  17. Exactly, what's the fuss all about? Let's wait for a month and we'll all find out...All good things flr those who wait...Inshalla ;-)

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  18. The amount of negativity here is amazing, and the closer the deal is, the more fervent the haters become. Pathetic.

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  19. Reminds me of the Johnny Logan song "what's another year"......

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  20. OT: Today Gothenburg - Tuzla flights were launched with Wizz, 168 passengers on the first flight :)

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  21. Some people here are really blind....there must be huge turmoil behind the scenes... The deal is being postponed constantly. A high ranking delegation (Mr Hogan is for sure a busy man) comes to Belgrade and stays 3 days (!) just to sign a MOI that expresses nothing but a few possibilities? No Serbian politician present at the ceremony! Usually Mr Dinkic would appear to inaugurate a new telephone booth somewhere....so there must be something going terribly wrong. My intuition is saying that the government is busy with reconstruction and party charades in the background including a possible early election. They are stuck with JAT Airways most probably because they simply don't have the 180 millions to take over the debts.....

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    1. Don’t worry your pretty little head. Dinkic was front and center at tonight’s Etihad cocktail in Belgrade where Hogan and all the Etihad management was at. And keep predicting with your usual hate... since everything opposite has happened to what you have predicted here in the past.

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    2. Might I add that SNS high ranking members were also in attendance this evening. I guess because of all of the 'turmoil' you speak of.

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    3. Let all the haters hate...time will show how wrong they were this time :)

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  22. Interesting, the acting CEO of Jat announced that the first of two ATR 72-500 will arrive next week: "SLEĆE PRVI ATR

    U FLOTU „Jata“ već u utorak ili u sredu sleće prvi od dva lizingovana aviona tipa ATR 72-500. Kako je najavio Velibor Vukašinović, u špicu sezone srpski prevoznik će saobraćati sa 14 letilica.

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    1. Where this information comes from?

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  23. JAT Airways has second day in a row cancelled today's EY-codeshare flight to SJJ and put the passengers in Slavija Hotel. I work for an airline and the last flights to be touched are codeshare flights! I predict if they continue like this and receive complaint letters from important EY codeshare passengers- that's it! I know what I am talking about because a friend works with EK and knows how complaint letters from emirati passengers are treated!Also the SKP flight was cancelled. Very soon passengers from Bosnia and Macedonia will be fed up......so this is the BIG regional hub? Commercial disaster. I think if EY ever buys JAT they will have to change their name and flight numbers and livery because passengers associate total unreliability with present day JAT Airways!

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  24. Jat tehnika maintence Etihads Airbus Line Maintenance, I think it's the only Line Maintenance customer, or am I wrong?
    http://www.jat-tehnika.aero/index.php/en/

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  25. This comment has been removed by a blog administrator.

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    1. +1
      and , for the record, I'm from Serbia

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  26. Tomorrow morning at BEG.......

    JU 404 ROME 07:00 07:00 C3 Boeing 737-300
    JU 662 PODGORICA 07:30 07:30 A8 ATR 72
    JU 680 TIVAT 07:30 07:30 C2 Boeing 737-300
    JU 6682 PODGORICA 07:30 07:30 C4 Boeing 737-300
    JU 314 VIENNA 07:55 07:55 A10 ATR 72
    JU 354 BERLIN 07:55 07:55 A6 Boeing 737-200
    JU 370 COPENHAGEN 08:00 10:15 A9 Boeing 737-300
    JU 360 DUSSELDORF 08:05 08:05 C5 Boeing 737-300
    JU262 AMSTERDAM 08:20 08:20 C1 Boeing 737-300

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    1. That is what you find impressive or what?

      OU0456 BRUSSELS 06:20
      OU4436 MUNICH 06:45
      OU0410 FRANKFURT 07:40
      OU0380 ROME 07:50
      OU0440 VIENNA 08:05
      OU0490 LONDON LHR 08:20
      OU0450 AMSTERDAM 08:25
      OU5502 VIENNA 08:25
      OU0470 PARIS 08:30
      OU5390 BERLIN 08:50
      OU0416 FRANKFURT 0905
      OU0460 ZURICH 09:10

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    2. I saw a chaos in my eyes.. and i didn't find it impressive at all. And I have nothing against OU... but of course, you had to answer that way -.-

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  27. Today and tmrw already EY A320 in BEG

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  28. I don’t know why everyone is getting so worked up. This is exactly how the process of purchasing Air Seychelles went as it had very similar problems to Jat business wise. First the initial agreement, then the memorandum and then the takeover. Mark my words you will see this takeover completed in around a month. Good night from Ljubljana.

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    1. PS: Etihad is well known of being very secretive of its plans and is extremely careful of what it puts forward to the media. But judging by what Hogan said, in his usual reserved language, he practically admitted this takeover is going through. Make no mistake, Etihad would probably never choose to get involved in Jat but this has nothing to do with that. A certain Emir gave an order and it must be followed through. I am honestly happy for Jat. Why should I be consumed by hate and jelousy? Now I hope we get something similar when Adria gets privatise. Yes, it’s a smaller market but anything to get out of Star Alliances claws.

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    2. Guy from Ljubljana, your last series of a comments were great so i suggest you using a nickname so we recognize you better. Great words on Zagreb the other day. All the best!

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  29. BELGRADE/DUBAI | Mon Jun 17, 2013 7:48pm IST

    (Reuters) - The United Arab Emirates' (UAE) Etihad Airways has signed a preliminary agreement with the Serbian government over a possible equity investment in the Balkan country's loss-making JAT Airways.

    Serbia is looking to offload loss-making state enterprises, including JAT, pharmaceuticals firm Galenika and the Zelezara Smederevo steel mill in a bid to keep its budget deficit at about 4.7 percent of gross domestic product (GDP) and secure growth of around 2 percent this year.

    Previous attempts to sell JAT have failed due to lack of interest from prospective buyers.

    Etihad, which has been expanding rapidly, did not specify the value of the potential deal, nor how much of a stake it could take in JAT, adding any transaction would be subject to a due diligence process and regulatory approvals.

    "The two airlines will now intensify discussions about collaborative efforts to further integrate their networks and help JAT Airways achieve efficiency, build revenue and reduce costs," Etihad chief executive James Hogan told a news conference in Belgrade.

    In April, Etihad and JAT agreed to share route-booking codes but stopped short of an equity tie-up.

    Earlier this year, the Serbian government said it was ready to take on 170 million euros ($227 million) of JAT's debt, which in 2012 stood at 3.68 billion dinars ($43.1 million), pay leases for six new aircraft from EADS's (EAD.PA) Airbus and secure severance payments for redundant workers.

    Hogan said a minority equity investment could help JAT to secure savings through pilot and crew training and fuel costs, as well as through procurement and maintenance agreements for common engine types.

    "These are early days, but we are ... looking forward to explore the possibility of a much deeper strategic commercial partnership with JAT Airways," he said.

    JAT currently operates 10 Boeing (BA.N) 737-300s and four ATR (EAD.PA) (SIFI.MI) 72-200 turboprop aircraft on 30 routes within Europe and to the Middle East.

    Partnership with Etihad is part of Serbia's bid to secure investments from sovereign lenders outside the recession-hit euro zone - the main trading partner of the European Union candidate country.

    Serbia has already borrowed from Russia, China and the UAE. This year, it has secured a $400 million sovereign loan from the UAE for agriculture investment and agreed more than $400 million in investment by the Al Dahra agricultural firm based in the emirate

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  30. JAT Airways cancelled for 3rd day in a row the EY-codeshare flight to SJJ.....this is how they respect/treat partners. I also cannot understand why the 732 leased from AGX has to be sent to western destinations instead of SVO or TGD/TIV?...can somebody explain?

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  31. What I was hearing is that people from the Etihad were really shocked by the last month switching of the JAT management. Not beacuse of the switching itself, but because they put the management with knwoladge on the modern functioning of air industry. Instead of following up modern market approaches, they inted to "revive" the JAT´s patriotic strategies from the end of the 80es, e.g. from the end of the last century. We can only guess what was the reasson to change the whole management in so important moment, but it is certainly a disaster for the negotiations with Etihad. As somebody has already stated: the Etihad president and other direcotrs did not come ti Belgrade for 3 days just to share few drinks and to inspect Belgrade hotels. They had come here for a reason that was not fullfilled, because the new management of JAT is not fluent into conditions of odern aviation industry. So it is just a sad story we have here - a one in a hunderd year chance for an important company that was given away for some comical politacal actions and deals.

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    1. *with NO knowlagde on the modern functioning of air industry.

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  32. If the top brass from Etihad came to Belgrade for a 3 day visit, could it be part of the process & due diligence process, if all was not good, they could have easly cancelled the trip.
    Etihad dont usally provide a running commantary of their negociations, this may disappoint many on here, but in the end we all need to wait until Etihad makes thee call.
    Im sure they knew the circumstances JAT is in and the Serbian & UAE government deals in progress. As the big incentive for Etihad is the cargo facility that is planned at the airport

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  33. Today, June 19, Minister of Finance and Economy (Mr. Dinkic) confirmed that Serbian Government received an offer from EY and that negotiations started. In his own words: "This would not be the same airline, but a new modern company with new fleet and far superior service offering for its passengers."

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  34. Why JU code share to Pakistan and that too three cities while nothing to India? do a lot of Pakistani's travel to Serbia?

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