October 11, 2019 / 3:52 PM / 4 months ago

Serbia ditches bid to sell aircraft maintenance company

BELGRADE (Reuters) - Serbia’s economy ministry withdrew the sale of JAT Tehnika, a Belgrade-based aircraft maintenance company, six days after the deadline for bidders expired.

Last month the ministry offered a 99.38% stake in JAT Tehnika at a starting price of 10.25 million euros ($11.42 million), with Oct. 4 as the deadline for binding bids.

The ministry canceled the sale immediately due to “certain issues concerning the privatization (of the company) that needed to be addressed.”

Economy ministry officials could not be immediately reached for further comment.

JAT Tehnika was formed in 2006 after it was spun off from Serbia’s now-defunct JAT Airways. It employs around 1,000 people.

The company is responsible for the maintenance of planes operated by Air Serbia. It is certified to provide full maintenance for the Boeing 737 Classic and Boeing 737NG, ATR 42 and 72 aircraft and all Airbus A320 types.

A previous attempt to sell it failed in July when it attracted no bidders.

Reporting by Aleksandar Vasovic; Editing by Louise Heavens

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