Etihad Airways has moved closer to taking a shareholding in Serbian airline Jat Airways.
The Abu Dhabi-based carrier has agreed a memorandum of understanding with the Serbian government which could lead to Etihad buying a stake in state-owned carrier Jat Airways.
Etihad 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.”
Etihad’s decision on whether to invest in Jat depends on “the successful completion of a comprehensive due diligence process and be subject to all necessary regulatory and respective board approvals”.
The airlines will now enter talks about how they work together to “achieve efficiencies, build revenue, and reduce costs”.
Hogan added: “As we have demonstrated with our minority equity investments in other airlines, significant ongoing savings can be achieved through joint initiatives. These include pilot and crew training, fuel, insurance, and procurement and maintenance agreements for common engine types.”
The announcement came two days after Etihad began daily flights between Abu Dhabi and the Serbian capital Belgrade.
Etihad already has minority stakes in several other carriers including Air Berlin, Aer Lingus, Jet Airways, Virgin Australia and Air Seychelles.
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