Europe/CIS: Serbia’s Jat Airways nearing bankruptcy

Jat Airways is nearing bankruptcy, according to Serbia’s Press newspaper. The Serbian government has been attempting to sell a 51 per cent stake in the troubled carrier since late June to raise money to revitalise it. But no buyers have come forward. It already has reduced onboard food service to lower costs and has laid […]


Jat Airways nearing bankruptcy Serbia


Jat Airways is nearing bankruptcy, according to Serbia’s Press newspaper. The Serbian government has been attempting to sell a 51 per cent stake in the troubled carrier since late June to raise money to revitalise it. But no buyers have come forward. It already has reduced onboard food service to lower costs and has laid off employees based outside Serbia. It reportedly has €250 million ($355.4 million)in debt.