Government increases holdings in Air Serbia

A press release said that the government recapitalized Air Serbia to increase its holding from 51 to 82 percent, adding that the recapitalization was part of efforts to deal with the fallout of the coronavirus pandemic and was launched at the company’s request.

"We are grateful to the Government of the Republic of Serbia for providing support to the national airline to overcome business obstacles caused by the coronavirus pandemic in the most difficult year in the history of passenger air traffic," it quoted Air Serbia CEO Duncan Naysmith as saying, adding that “the foundations have been created for further uninterrupted business and that, with fundamental measures to rationalize the company's operations, which are already well underway, Air Serbia will be able to overcome difficulties, strengthen its position as a leader in the region and continue to provide direct and an indirect contribution to the Serbian economy, primarily transport and tourism".