HOT OFF THE WIRE

Serbia’s Jat Tehnika And Airbus Plan Training Center for Balkans

JAT Tehnika, Serbia’s aircraft maintenance company, said it will expand into servicing Airbus SAS’s (EAD) jets this year as it agreed with the aircraft maker to set up a training center for handling its 310 and 320-series planes.

Certification of JAT Tehnika for servicing the Airbus jets is expected in the third quarter, after which the companies will establish a “regional training center for third parties,” said Srdjan Miskovic, JAT Tehnika’s general manager in a phone interview today. The agreement was signed at Airbus’ headquarters in Toulouse last week, he said.

“It will open a big market for us because some 60 percent of air traffic in the region of southeastern Europe is done with Airbus” planes, he said. Belgrade-based JAT Tehnika’s revenue is seen rising at least 30 percent, after the license is added to the existing ones for Boeing Co. (BA) and ATR aircraft, he said.

The government failed to sell JAT Tehnika in 2008, when it was unprofitable, and has no immediate plans to offer it again, Miskovic said. JAT Tehnika’s sales rose 52 percent to 2.93 billion dinars ($32 million) last year, while net income almost quadrupled to 6 million dinars.

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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.