Materiality analysis and stakeholder engagement
Introduction
CEO letter
Air SERBIA’s Story
Air Serbia in 2025 - year in review
Governance
Environment
Economic value and connectivity
Social
Appendix
Adoption of the list of material topics The final list of 18 material topics was presented to the Sustainability Committee, which reviewed and adopted it. This ensured oversight and approval by the highest level of governance over the process of determining material topics and the content of sustainability reporting (GRI 2-14). Methodology Each of the 18 candidate topics was rated on a scale of 1 to 5 (1 = negligible significance, 5 = extremely high significance) by three respondent groups: employees, passengers and other external stakeholders. The internal view (X axis) is based on employee ratings, while the external view (Y axis) is calculated as the average of stakeholder and passenger ratings. The materiality thresholds are defined as the average of all ratings per axis: 4.04 on the X axis and 4.18 on the Y axis. Stakeholders' involvement in the process is described in Section 4.3.
5.3 Stakeholder engagement
Air Serbia's key stakeholders are the groups whose activities affect, or are affected by, the company's operations. The initial mapping of stakeholder groups was developed by the Sustainability function based on a review of disclosure practices across comparable airlines and international sustainability reporting guidance. This initial mapping was then evaluated internally through a company-wide consultation, in which each organizational unit identified the stakeholders most relevant to its area of activity. The consolidated list was presented to the Chief Executive Officer and formally adopted, ensuring that the final stakeholder map reflects both external good practice and the operational reality of the company. The purpose of stakeholder engagement is twofold: to inform the company's decision-making on material economic, environmental and social topics, and to provide accountability through transparent communication. The methods, frequency and key topics for each group are presented in the table below.
Sustainability Report 19
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