Airbus returns jet deposit to Air Serbia
Air Serbia has said the European plane manufacturer Airbus has returned a 23.5 million dollar deposit made by its predecessor JAT Yugoslav Airlines for eight A319 aircraft in 1998. The deposit was credited by Etihad Airways as a pre-delivery payment for ten A320neo jets, which the Emirati carrier had ordered for its equity partner Air Serbia in 2013, but has since been cancelled. The Serbian airline said it secured the deposit "only thanks to Etihad". However, it remains unclear whether the payment has been forwarded directly to Air Serbia or if the deposit has simply been transferred back from Etihad to the Serbian airline, but ultimately remains locked-in with Airbus.
Asked by EX-YU Aviation News to clarify the statement, the European plane manufacturer said it was not at liberty to disclose any details as the matter is of a contractual nature which is confidential. Air Serbia held direct talks with Airbus in November of last year concerning the deposit. The airline's predecessor, Jat Airways, as well as multiple Serbian governments, unsuccessfully attempted to return the deposit payment for over a decade. The matter was quickly resolved after Etihad acquired a 49% stake in Air Serbia five years ago. Relations between the European plane manufacturer and the Serbian government have improved over the last few years, with Serbia also ordering Airbus military helicopters.
JAT Yugoslav Airlines was instructed to order eight A319 jets twenty years ago under extremely unfavourable terms. The order, valued at 560 million dollars, was viewed as a political stunt at the time as Yugoslavia was negotiating the lifting of trade embargoes imposed by the European Union onto the country. The sanctions were not lifted until 2001. Under the original order, delivers were due to begin in 2000 with two jets, while the rest were to be in service by 2005. At the time, JAT had no Airbus aircraft in its fleet, which was predominately made up of American airframes. The Yugoslav carrier also signed a preliminary agreement for CFM International CFM56-5A4 turbofan engines.
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