Jat Tehnika privatisation: Deadline closes - four companies in the race

Three companies have bought tender documentation for the privatisation of Jat Tehnika, the largest aviation maintenance company in the EX-YU based in Belgrade. The interest for the purchase of the maintenance company, which was made independent from Jat Airways in 2005, has been more than encouraging. The tender commenced on June 16 and closed on Friday August 29. Two Israeli companies are in the run – El Al and Israel Aerospace Industries (Bedek Aviation) while the third compay comes from the neighbourhood, more precisely from Hungary – Malev. A fourth company has also purchased the tender documentation however its name has not been published although some it is rumoured to be either Lufthansa Technik from Germany or ST Engineering from Singapore.

Jat Tehnika is 100% owned by the Government of the Republic of Serbia. Tehnika has hangers at Belgrade Nikola Tesla Airport with a capacity to service 100 aircraft per year. In 2007 it had a profit of 22 million Euros while it is expected it will have a profit of 45 million by the end of this year with Jat Tehnika servicing jets from ČSA, Transaero, Jet2.com, Jat Airways and many others. The company employs 1.000 people while the company’s purchase price is estimated at 100 to 200 million Euros. The four companies have until September 26 to send in their offers.