Aviogenex (JJ, Belgrade) faces closure should it fail to secure a viable strategic partner. According to EX-YU Aviation News, Aviogenex is one of 188 bankrupt state-run companies that Belgrade intends to shut down as part of the terms of a EUR1billion (USD1.16billion) loan from the International Monetary Fund (IMF).

Thus far, the moribund charter airline has attracted interest from local firm, JetVision Balkan, Russia's Arctica Airlines, a firm believed to be linked to Mikhail Kremeshkov, Dmitry Vinokurov and Vyacheslav Zotov, Swiss investment firm, Euroswiss Investment Holding AG (though Helvax AG has also been mentioned), and the UAE-based Overseas Group.

Serb Economy Minister, Željko Sertić, has expressed doubts that even with a suitable partner, the carrier could return to profitability.

“Most of these companies are inactive ... they are making losses but they do not exist in real life. They are just empty shells," he said.

The deadline for the sales is the end of December 2015.

Aviogenex's fleet has dwindled to just one aircraft - a B737-200Adv. - which has been parked in Belgrade since the beginning of last year when its last contract - a wet-lease for Westair Bénin (WH, Cotonou) - ended.