Serbia May Overhaul JAT Airways With Local Businessmen, B92 Says

Three Serbian businessmen may control 50 percent of JAT Airways after a planned workforce reduction in the flag carrier in partnership with the state, B92 broadcaster reported, citing one of the possible investors.

Miroslav Miskovic, the president of Delta Holding, Miodrag Kostic of MK Group, and Farmakom MB owner Miroslav Bogicevic may invest a combined 25 million euros ($33 million), while the state may invest as much in the overhaul that would reduce the workforce to a third of the 1,200 employees now and renew the aging fleet, the report said, quoting Kostic.

Serbia’s latest tender to sell the unprofitable airline failed in December.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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