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Serbian national airline to be privatised

Serbia has decided to privatise its national airline, JAT Airways, over the course of the summer.

Serbia has decided to privatise its national airline, JAT Airways, over the course of the summer.

The airline operates cheap flights from Belgrade to 38 destinations in Europe, Asia and north Africa.

Efforts to find a private partner for the airline started last year, and six unnamed companies are thought to be interested.

In the past, Aeroflot Airlines and Air India have both expressed interest in JAT Airways, but these potential bids were terminated due to political instability in Serbia.

"Whatever happens, it’s vital that the privatisation takes place before the summer, and I’m convinced this will indeed happen," the JAT Airways CEO Sasa Vlaisavljevic told Blic, a Serbian national daily.

The Serbian government is looking to sell off 51 percent of its shares and has asked Rotschild Investment Bank to act as an advisor.

The airline will be officially listed for sale at the end of the month.

JAT Airways has a collective debt of €209 million and its net annual income over the past two years has hovered at around only €3.8 million.

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