Serbia's Flag Carrier JAT Jan-Nov Passenger Traffic Up 5.4% Y/Y

Charter passenger traffic rose 22% on the year through November, the company said in a statement.

A recent tender for the sale of the state's 51% stake in JAT at a call price of 51 million euro ($64.4 million) failed as no candidates filed bids by the deadline that expired on October 24,  the country's asset-selling agency has said.

Economy Minister Mladjan Dinkic said in October that if the privatisation tender failed the cabinet will not put the flag carrier up for sale at a lower price but will finance its restructuring from the state budget.

Last year JAT posted 3.75 million euro in net profit, slightly down from 3.8 million euro in 2006.

($ = 0.7914 euro)