Serbian government finances redundancy program for Jat Airways staff

Based on the interest in a voluntary redundancy expressed by Jat Airways employees, the Ministry of Finance and Economy has submitted a manual for implementing the redundancy program to the company management.

Jat Airways' personnel will be able to apply for a voluntary redundancy in the period between August 12th and September 6th. They will be offered to choose between several options, one of which is a severance pay of EUR 300 per year of work. Each worker will be individually asked to pick the option he or she finds the most favorable, the Finance Ministry announced.

Adoption of this redundancy program is in line with the Redundancy Program for Companies in the Process of Rationalization, Restructuring and Preparations for Privatization (which has been adopted by the Serbian government) and the Strategic Partnership Agreement signed with the UAE's flag carrier Etihad Airways on 1 August 2013.

After the Serbian government gave its consent last week for the leasing of ten airplanes, the redundancy program is another step towards the successful implementation of strategic partnership between Etihad and Jat.