December 7 (SeeNews) - Serbia's government plans to adopt a programme for the restructuring of flag carrier Air Serbia by the end of 2020, finance minister Sinisa Mali said on Monday.
"The restructuring programme of Air Serbia will be adopted by the end of this year, then it will be subject to approval by the country's state aid commission, and then we will send it for approval to the European Commission," Mali said in a video file posted on the website of Tanjug news agency.
The government aims to support Air Serbia, which will not be able to operate at the same capacity as before, as it will need to reduce costs and adjust to the new market conditions, Mali said.
In June, Serbia's President Aleksandar Vucic said the government plans to hike the capital of Air Serbia and is ready to increase its stake in the company if equity partner Etihad Airways refuses to take part in the transaction.
The Abu Dhabi-based airline holds a 49% stake in the capital of Air Serbia, while the remainder is controlled by the Serbian government.