Air Serbia confirms recapitalisation by government, state ownership increased to 82%

Air Serbia confirmed (31-Dec-2020) the Serbian Government recapitalised the airline and increased its ownership share from 51% to 82%. Etihad Airways' share in Air Serbia decreased from 49% to 18%. Air Serbia stated: "The increase of the share capital of the Company was undertaken in order to eliminate the disturbances in the economy caused by the pandemic". CEO Duncan Naysmith said that with the recapitalisation, "the foundations have been created for further uninterrupted business", in combination with "fundamental measures to rationalize the company's operations". [more - original PR]