Etihad Airways said on Monday it had signed an initial agreement with the Serbian government over a possible equity investment in the country's loss-making JAT Airways.
No value for the deal nor how much of a stake Etihad would take in the carrier was given in the statement, which said the purchase would be subject to a due diligence process and regulatory approvals.
A Serbian government official said in April that it was meeting officials from Etihad about selling the Abu Dhabi-based carrier a 49 percent stake in JAT Airways.
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