State Prepared to Increase Ownership Share in Air Serbia

The state will not only help Air Serbia in the times of crisis, but, if necessary, also recapitalize the national airline carrier, stated Serbian President Aleksandar Vucic.

– I don’t understand why it’s a problem when Serbia aids its airline carrier during the coronavirus crisis and not when Germany does the same with Lufthansa – he said and added that Germany aided Lufthansa with EUR 9 billion, under the condition that they lay off 25,000 people.

– As for Air Serbia, not only will it survive, but we will have enough strength and knowledge to recapitalize it and acquire a larger ownership percentage if necessary – Vucic said in response to the press.

The start owns 51% of Air Serbia, and the UAE-based company Etihad owns 49%.

– Just like Germany, we will also have to come up with a restructuring plan, since we are under direct control of the EC when it comes to state aid – Vucic said.

According to him, Serbia will only do what other European countries are doing.

The president claims that Air Serbia is more successful than other airline carriers in the region and adds that it is the only one in the region that has direct flights to New York and that it has continued operating throughout the crisis.

Air Serbia ad Beograd

Air Serbia

Etihad

Aleksandar Vučić

recapitalization