State to Pay Air Serbia EUR 15.47 Million Through New Recapitalization

The state of Serbia will pay the domestic air company Air Serbia RSD 1.82 billion, which amounts to EUR 15.47 million, thereby increasing its ownership share in this company to 83.58%, whereas the share of Etihad will drop to 16.42%, reports the N1 portal.

The payment, which was adopted by the GM, will be carried out through the recapitalization of Air Serbia, in which the state of Serbia will become the owner of another 1.8 million shares of the domestic air company, paying a thousand dinars per share. Combined with the previous recapitalization from December 2020, the state will increase its share in the capital of Air Serbia by a total of EUR 115.47 million.

– It is thereby decided for Air Serbia to increase its share capital through a new input, by issuing 1,818,820 of regular shares to the shareholder, the Republic of Serbia, without publishing the prospectus – says the decision on the issuing of regular shares of the seventh issue for the purpose of increasing the share capital of Air Serbia.

This is a closed share issue, which doesn’t require the publication of the prospectus. At the session of the Supervisory Board of August 29, two draft decisions were adopted – one on the issuing of the shares, whereas the other is the draft decision on excluding the preferential subscription rights.

These draft decisions were adopted by the GM of Air Serbia at the session held on August 30, 2022.

– The preferential subscription rights are canceled for other shareholders, due to the determined current inability of the company Etihad Airways to take part in the necessary recapitalization of Air Serbia – the decision says.

The state of Serbia did the first recapitalization of Air Serbia in December 2020 through a monetary input of EUR 100 million.

Air Serbia ad Beograd

Ministarstvo privrede Republike Srbije

Fiskalni savet Republike Srbije

OGRANAK ETIHAD AIRWAYS Beograd

Vlada Republike Srbije

Air Serbia

Etihad Airways

Government of Serbia

recapitalization of Air Serbia

Air Serbia share issue