Republic of Serbia has increased its share of Air Serbia The Serbian state has increased its ownership stake in Air Serbia from 51 to 82 per cent, with Etihad Airways’ reducing its share from 49 to 18 per cent
ON THE BASIS OF THE EXISTING CON- TRACT BETWEEN the Ministry of Economy of the Government of the Republic of Serbia and Air Ser- bia, the Serbian national airline has been recapi- talised, with the Republic of Serbia increasing its Air Serbia ownership share from 51 to 82 per cent, while the share owned by Etihad Airways was re- duced from 49 to 18 per cent. “We are grateful to the Government of the Re- public of Serbia for providing support to the nation- al airline to overcome business obstacles caused by the coronavirus pandemic in the most difficult year in the history of passenger air traffic,” said Air Ser- bia CEO Duncan Naysmith. He added that, in this way, the foundations have been laid for further un- interrupted operations, and – with the fundamen- tal measures to rationalise the company’s opera- tions that are already well underway – Air Serbia will be able to overcome difficulties, strengthen its po- sition as a leader in the region and continue to pro- vide both a direct and an indirect contribution to the Serbian economy, primarily in the fields of trans- port and tourism. The recapitalisation of the Serbian national air- line was initiated at the request of Air Serbia, in ac- cordance with the Government of the Republic of Serbia’s October 2020 decree envisaging the meas- ure of recapitalising companies hardest hit by the pandemic. This regulation is fully in line with the European Commission’s Provisional Legal Frame- work, which regulates state aid measures to sup- port the economy during the continuing COVID-19 pandemic, including recapitalisation. At the request of the Government of Serbia, the State Aid Con- trol Commission reviewed the proposed meas- ures and confirmed that the measure of in- creasing the airline’s share capital was harmonised with the positive le- gal regulations of the Republic of Serbia, which created the conditions for recapital- isation.
51 % Serbia
18 % Etihad
Etihad 49 %
Serbia 82 %
Er Srbija će moći da prevaziđe teškoće i učvrsti svoju poziciju lidera u regionu / Air Serbia will be able to overcome difficulties and strengthen its position as a leader in the region
Air Serbia » Er Srbija | 9
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