(MENAFN) Etihad Airways is set to buy a 49 percent shareholding in cash-strapped Serbian flag carrier Jat Airways next Monday, Arabian Business reported citing the Politika daily newspaper.
Finance Minister Mladjan Dinkic said earlier this year that Etihad was interested in a long-term partnership in which the expanding Gulf airline would take a 49 percent stake.
JAT currently operates ten ageing Boeing 737-300s and four ATR 72-200 turboprop aircraft on 30 routes within Europe and to the Middle East.
The Abu Dhabi flag carrier will reportedly place a 10 Airbus A319 order upon signing the deal, in addition to retire some of its aging fleet of Boeing 737 aircraft.
The Gulf airline will also add routes from Belgrade to cities in the former Yugoslavia, the Balkan region, Eastern Europe, North Africa and the Middle East are also set to launched, according to the Balkans.com news website.
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