Abu Dhabi: Abu Dhabi-based Etihad Airways Thursday said it signed an agreement with Serbia to acquire 49 percent of its loss-making JatAirways, which will be rebranded as Air Serbia.
The Gulf's fast-growing carrier and the government of Serbia have agreed "both to inject USD 40 million" into the Serbian national carrier, a statement said.
The two parties will also "each provide up to USD 60 million further funding," the statement added.
Etihad has also been awarded a five-year contract to manage the carrier.
"We will have tough decisions to make," said Etihad's chief James Hogan.
"But the financial investment by Etihad Airways and the government of Serbia, together with the positive impact of our joint management expertise and experience, will help ensure this airline, with its proud history, now has an even brighter future."
01/08/13 Zee News
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The Gulf's fast-growing carrier and the government of Serbia have agreed "both to inject USD 40 million" into the Serbian national carrier, a statement said.
The two parties will also "each provide up to USD 60 million further funding," the statement added.
Etihad has also been awarded a five-year contract to manage the carrier.
"We will have tough decisions to make," said Etihad's chief James Hogan.
"But the financial investment by Etihad Airways and the government of Serbia, together with the positive impact of our joint management expertise and experience, will help ensure this airline, with its proud history, now has an even brighter future."
01/08/13 Zee News
