Etihad Airways receives final approvals for Air Serbia deal, completes acquisition of 49% stake

Etihad Airways confirmed (25-Mar-2014) that the "requisite government and regulatory approvals, consent and permissions sanctioning the strategic partnership between Air Serbia and Etihad Airways, have now been obtained." As a result, the carrier's initial USD40 million loan to Air Serbia will be converted to equity. Etihad Airways president and CEO James Hogan said: "I am pleased to confirm Etihad Airways is now the shareholder of 49 per cent of Air Serbia. This investment represents an important partnership with the Government of Serbia, as we work together to build Air Serbia into the leading airline in the region." Air Serbia CEO Dane Kondić added: "Air Serbia has a strong business plan, and a clear Government mandate, to be a safe, best-in-class and profitable airline.‎ We have already achieved a remarkable transformation of the national airline of Serbia and are looking forward to the journey with our new shareholder and strategic partner, Etihad Airways." Serbia's Deputy Prime Minister Aleksandar Vučić said: "We are pleased to have closed the transaction with Air Serbia's strategic partner, Etihad Airways. Air Serbia is the only major airline in the region to have successfully partnered with a leading global airline, Etihad Airways. We are proud the national airline of Serbia now stands shoulder-to-shoulder with the best in the world." [more - original PR]