SERBIA BOUGHT A PART OF SERBIA: With 82%, our country is the majority owner of the national airline!

Etihad Airways’ share was reduced from 49 to 18 percent. The expansion of the Company’s capital stock was undertaken in order to eliminate the disturbances in the economy caused by the COVID-19 infectious disease pandemic.

– We thank the Government of the Republic of Serbia for providing support to the national airline to overcome trade obstacles caused by the coronavirus pandemic in the most difficult year in the history of passenger air traffic – said Duncan Naismith, CEO of Air Serbia He added that “in this way, the foundations have been created for greater uninterrupted business and that, with fundamental measures to streamline the company’s operations, which are already underway, Air Serbia will be able to overcome difficulties, strengthen its position as a leader in the region and continue to provide direct services and an indirect contribution to the Serbian economy, mainly transport and tourism. “

The recapitalization of the Serbian national airline was carried out at the request of Air Serbia, in accordance with the decree of the Government of the Republic of Serbia of October 2020, which provides for the recapitalization measure of economic entities affected by the pandemic.

This regulation is fully in line with the European Commission’s Provisional Legal Framework, which regulates state aid measures to support the economy during the current COVID-19 pandemic, including recapitalization.

At the request of the Government of Serbia, the State Aid Control Commission reviewed the proposed measures and confirmed that the measure to increase the Company’s share capital was harmonized with the positive legal regulations of the Republic of Serbia, which created the conditions for the recapitalization.