The Commission for Protection of Competition released today approval for the concentration that would arise by fact in which Itihad Airways would take 49 percent of the capital of Serbian carrier Jat Airways .
As stated in the press release of the Commission, it was determined that this would not lead to a significant prevention, restriction or distortion of competition in the market .
The Commission for Protection of Competition stated that previously the sole owner of Jat Airways was Serbia , and will continue to have joint control with Itihad with 49 percent of the capital and Serbia with 51 percent of the capital.
It is also stated that additionally Itihad will gain some control and responsibility over the JAT.
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The Government of Serbia has signed in August with Itihad Airways strategic partnership agreement by which the company from the United Arab Emirates to become the owner of 49 percent of the Serbian carrier and on the basis of which the Jat Airways changed its name Air Serbia .
The Serbian Government and Etihad Airways will procure $ 100 million for Air Serbia.
