newstodate.aero
Aug 03, 2010 (newstodate): A solution may be in sight to the long-standing issue of Airbus aircraft deliveries to the Serb carrier JAT Airways.
Reports are that JAT Airways has now signed a LoI with Airbus as a decisive first step towards activating the dormant contract between the parties dating back more than a decade.
In 1998, JAT inked a contract worth USD 400 million with Airbus for purchase of eight A319 aircraft and paid USD 23 million up front. The contract was, however, forced upon the airline by the former government, and JAT has since sought ways to retrieve its down-payment and be released from the obligations to take delivery of the aircraft.
The situation may have improved now as the government has decided to split the existing JAT Airways into two units, one taking on the assets including aircraft, crews and technical staff, and the other retaining the debts to be acknowledged by the state.
Reports are that JAT Airways has now signed a LoI with Airbus as a decisive first step towards activating the dormant contract between the parties dating back more than a decade.
In 1998, JAT inked a contract worth USD 400 million with Airbus for purchase of eight A319 aircraft and paid USD 23 million up front. The contract was, however, forced upon the airline by the former government, and JAT has since sought ways to retrieve its down-payment and be released from the obligations to take delivery of the aircraft.
The situation may have improved now as the government has decided to split the existing JAT Airways into two units, one taking on the assets including aircraft, crews and technical staff, and the other retaining the debts to be acknowledged by the state.