The Serbian-Montenegrin government has ordered flag carrier Jat Airways to accelerate its long-stalled restructuring plan in a bid to stave off bankruptcy.
The government ended eight months of turmoil at Jat late last week by forcing the airline into administration after negotiations between airline management and unions broke down. Nebojsa Starcevic - a lawyer with no aviation background - has been appointed as acting general manager.
Disruption at the airline peaked last month when a work-to-rule forced it to cancel flights.
Jat's restructuring plan sets out reforms including shedding non-core tourism and investment subsidiaries, but has been stalled since its publication in 2003, while the airline was operating as JAT Yugoslav Airlines (Flight International, 11-17 February 2003).
Mladjan Dinkic, Serbia's finance minister, says the government wants the restructuring completed by mid-year. Dinkic says that "first to go" are two hotels managed by Jat and a tourist apartment complex, followed by the airline's agricultural aviation division operating Antonov An-2s and PZL M-18. Next to go will be Jat's flight academy in Vrsac and its catering arm, all of which will be privatised, he says.
The carrier's technical department at Belgrade airport is to be divested in May and a new charter operator will be established in June, says Dinkic. Jat's workforce will be more than halved from 3,670 to around 1,500, he adds.
IGOR SALINGER / BELGRADE
Source: Flight International
