Serbian Infrastructure Minister Milutin Mrkonjic said Friday that the national carrier, Jat Airways, would not be sold to “tycoons” but rather to businessmen, who were expected to pay about EUR 30 billion to found a new airline company.

Mrkonjic said that it was about half the needed money and that the state would give the other half and a little more.

“I do not know what the word 'tycoon' means, since I belong to an older generation,” said Mrkonjic, reiterating anew that the new Serbian airline would be formed by the end of the term of the current government.

Asked whether Jat would be offered to businessman Miroslav Miskovic, Mrkonjic said that the carrier would be offered to anyone who offered more money, adding that negotiations would be led by Prime Minister Mirko Cvetkovic and he had confidence in Cvetkovic.

Mrkonjic said that the inflow of private capital should be promoted as Serbia would benefit from it.

He pointed out that all worthy assets would be transferred to the new airline, which should get a new fleet the following year, while Jat's debts would remain state debts.