Jat denies bankruptcy rumours

The management of Serbia’s national carrier has denied claims that the airline is on the brink of bankruptcy as speculated in some Serbian tabloids after yesterday’s cost cutting measures were announced. The airline’s management has said business is as usual and is reminding that 2008 will, in passenger terms, be the most successful year since 1990. The airline did confirm it will be decreasing its fleet however they remind people that this is done every winter due to the decrease in frequencies and that the 2009 summer season is already in the planning stages. It has been confirmed that 2 B737-300’s will be leased to an airline in Africa.

Some media have also started questioning if yesterday’s announcement of cost cutting measures is genuine and have actually been introduced to decrease costs. They suggest that Jat’s management is actually preparing the airline for an unsuccessful privatisation and that way it will be able to fire as many as 800 people under the explanation it is due to the financial state of the airline. Further adding to the argument is an announcement less than a month ago from Jat’s CEO that the airline will have a healthy profit by the end of December 2008.