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Serbia again offers for sale JAT Tehnika

Author Radomir Ralev
Serbia again offers for sale JAT Tehnika Source: JAT Tehnika

BELGRADE (Serbia), October 28 (SeeNews) - The Serbian economy ministry relaunched the privatisation of aircraft maintenance company JAT Tehnika, this time at a starting price of 10.2 million euro ($11.3 million), it said.

The ministry is offering for sale 95.4% of JAT Tehnika, which is in the hands of the government and state funds, it said in a privatisation notice published on its website on Friday.

The starting price is equivalent to the estimated fair market value of Jat Tehnika's share capital offered for sale as of December 31, 2018, the statement said.

Interested bidders can submit their letters of intent to participate in the process by November 6. The economy ministry will open the letters on November 14.

Companies with a total revenue of at least 40 million euro in 2018, active in the field of aircraft repair and maintenance, will be able to participate in the tender.

Interested bidders must have had Bombardier and Embraer type base and line maintenance certificates for at least the past five years continuously, as well as basic and line maintenance certificates for a minimum of three of the B737CL, B737NG, A320 Series and ATR 42/72 aircraft for at least the past five years continuously.

The bidders must also have certificates for basic and/or line maintenance of B737 MAX and A320 Series NEO aircraft.

Earlier this month, Serbia's economy ministry cancelled a tender for the sale of JAT Tehnika, which it launched in September after a previous attempt failed in August. It offered for sale 99.38% of JAT Tehnika, which is owned by the government and state-run funds, at a starting price of 20.5 million euro 

($ = 0.9018 euro)