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Etihad Airways and Serbia's Government to discuss equity investment in Jat Airways

18-Jun-2013 2:04 PM

Etihad Airways and Serbia's Government signed (17-Jun-2013) an initial MoU to discuss an equity investment in Jat Airways. The airlines will discuss further integration of their networks and collaboration to improve Jat Airways' efficiencies, revenue and cost reduction measures. The proposed investment would depend on the successful completion of a comprehensive due diligence process and be subject to regulatory and board approvals. The airlines commenced codeshare operations on 15-Jun-2013 and Etihad Airways commenced daily Abu Dhabi-Belgrade service on the same date. The airlines plan to expand their codeshare network to include Etihad Airways' services from Abu Dhabi to Bangkok, Beijing, Brisbane, Chengdu, Chicago, Colombo, Ho Chi Minh City, Islamabad, Johannesburg, Karachi, Kuala Lumpur, Kuwait, Lahore, New York, Melbourne, Seychelles, Shanghai, Singapore, Sydney, Toronto, and Washington and Jat Airways' services from Belgrade to Amsterdam, Athens, Berlin, Brussels, Copenhagen, Düsseldorf, Rome, Frankfurt, Gothenburg, Istanbul, Larnaca, London Heathrow, Milan, Moscow, Podgorica, Sarajevo, Skopje, Stockholm, Stuttgart, Thessaloniki, Tivat, Vienna and Zurich, subject to government and regulatory approval. Etihad Airways president and CEO James Hogan said, "These are early days but we are excited about the future and look forward to exploring the possibility of a much deeper strategic commercial partnership with Jat Airways. As we have demonstrated with our minority equity investments in other airlines, significant on-going savings can be achieved through joint initiatives. These include pilot and crew training, fuel, insurance, and procurement and maintenance agreements for common engine types...As the partnership between Etihad Airways and Jat Airways deepens, and new codeshare destinations are added, we will see greater numbers of travellers being fed across the two networks. This will increase further with the codeshare between Etihad Airways’ equity partner, airberlin and Jat Airways, which will link Belgrade, via Berlin, to Chicago." [more - original PR]