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According to the agreement between the Ministry of Economy and Air Serbia, the Serbian national airline was recapitalized today, and the state of Serbia increased its stake in Air Serbia from 51 to 82 percent, while the stake of Etihad Airways was reduced from 49 to 18 percent. , it was announced from Air Serbia.
As has been said, the increase in the capital stock of the Company was undertaken in order to eliminate the disturbances in the economy caused by the infectious disease kovid-19 pandemic.
Air Serbia General Manager Duncan Naismith thanked the Serbian government for supporting the national airline in overcoming trade hurdles caused by the corona virus pandemic in the most difficult year in the history of passenger air traffic.
He added that in this way the foundations have been created for greater uninterrupted business and that, with fundamental measures to rationalize 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 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 Serbia of October 2020, which provides for the recapitalization measure of economic entities affected by the pandemic.
The 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 Kovid-19 pandemic, including recapitalization, the airline said in a statement.
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.
(Kurir.rs/Tanjug)
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