Serbia’s Air Pink Rebrands as ImperialJet After Ownership Change

Serbia’s business charter operator, previously known as Air Pink and based at Belgrade Nikola Tesla, has been rebranded as ImperialJet. This significant transformation follows the acquisition of a 68% majority stake by entities associated with German entrepreneur Abed El Jaouni, according to details uncovered by ch-aviation.

Research into the Serbian business register revealed that the change occurred shortly after early June, transitioning the then-dormant airline to its new identity, ImperialJet. The company’s reshuffling includes a predominant 58% ownership by the Cypriot fund Icron Investments Limited. Key figures in this fund, as reported by Serbian news outlet Nova.rs, include El Jaouni, Aleksandar Ilić—an existing co-owner of Air Pink—and Vladimir Petković, linked to the airline’s founder, Željko Mitrović.

Further investment details show that an additional 10% of ImperialJet is held by ImperialJet Europe, based in Munich and also owned by El Jaouni. This branch operates a modest fleet consisting of one Challenger 605 and one Challenger 850.

Aleksandar Ilić retains the remaining 32% of ImperialJet, marking a significant change from the previous ownership structure where Mitrović and his Pink Media Group controlled half of the airline. Air Pink had been inactive since late February 2024 following the revocation of its operational permits due to failed safety audits.

The rebranded Serbian operator boasts a fleet that includes two Citation Jets, one Citation Jet 3, one Citation XLS, seven Citation XLS+, and two Legacy 600s.

El Jaouni, a noted figure in business aviation, previously managed Lebanese aviation company ImperialJet. In 2015, he initiated an international arbitration lawsuit against the Lebanese government, claiming USD 981.9 million for the “expropriation and unlawful revocation of aviation licenses.” The International Centre for Settlement of Investment Disputes awarded him USD 218.2 million in 2021, although legal battles continue.

Following the cessation of operations in Lebanon, all of El Jaouni’s aircraft are now managed under the German AOC, signifying a new chapter for ImperialJet as it seeks to redefine its presence in the global aviation market.

Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com