Jat Airways becomes Air Serbia after entry of Ethiad Aiways

Ethiad Airways takes over 49 per cent of the shares of Jat Airways; investment totals USD 40 million
 
Ethiad Airways, the national airline of the United Arab Emirates, has agreed on a comprehensive strategic partnership with Serbia’s government on August 2. The Arab enterprise acquires a 49 per cent-stake in JatAirways (USD 40 million). In line with that the airline will be renamed to the new brand Air Serbia. Both companies expect this agreement to reinforce trade and investment relations.
 
To this end the Arab airline obtains a five-years management contract to manage the national airline of Serbia. The strategic partnership provides also for additional aircraft and a new integrated route network to international destinations. In addition to the existing daily flights operated by Etihad Airways, Air Serbia will launch flights between Belgrade and Abu Dhabi in October 2013.
 
Established in 2003, the Arab airline Etihad Airways is serving 94 passenger and cargo destinations form their hub at the Abu Dhabi International Airport. These destinations are located in the Near East, Africa, Europe, Asia, Australia and America. Etihad Airways is holding stakes in airberlin, Air Seychelles, Virgin Australia and Aer Lingus.