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Nov 13, 2023 15:34 EEST
November 13 (SeeNews) - Serbia has acquired the remaining stake it did not already own in flag carrier Air Serbia from Abu Dhabi-based Etihad Airways, finance minister Sinica Mali said on Monday.
Serbia increased its stake in Air Serbia to 82% from 51% in 2020 to help it navigate the coronavirus pandemic. The transaction cut Etihad Airways' stake in the airline to 18%.
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Air Serbia, once bankrupt, is now a regional leader flying to four continents, setting an example of how a successful airline can contribute to the economic development of a country, Mali said in a video posted by news agency Tanjug.
The government will focus on developing the airline by getting larger planes and adding new flight destinations.
Etihad Airways bought a 49% stake in Serbia's loss-making Jat Airways - later renamed Air Serbia - in 2013.
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