Etihad Airways to retain equity stake in Air Serbia

posted on 4th July 2018 by Justin Burns
Etihad Airways to retain equity stake in Air Serbia

Air Serbia and Etihad Airways have agreed that the equity partnership between the two airlines is going to be continued.

Etihad owns 49 per cent of Air Serbia and says it remains a fully committed and supportive shareholder in partnership with Air Serbia’s majority shareholder, the Government of Serbia.

The news come after Abu Dhabi-based carrier yesterday revealed a reorganisation of its business splitting operations into seven business divisions. Last year, it pulled the plug on its investment in Alitalia.

President of the Government of Serbia, Ana Brnabić said: “Five years after the commencement of the successful equity partnership with Etihad Airways, Air Serbia is now fully standing on its own feet under the constructive supervision of its two shareholders, the Government of Serbia and Etihad. We are excited about Air Serbia’s perspectives and the continuation of our successful equity partnership with Etihad.”

Etihad Aviation Group’s chief executive officer (CEO) for equity partners, Robin Kamark said: “Etihad is honoured to have been able to help build Air Serbia into what it is today. We are looking forward to the next phase of our equity partnership as an engaged and supportive shareholder and cooperation partner.”

Interim CEO Duncan Naysmith and chief operations officer, Declan Keller will remain on current management positions until the end of this year, 31 December 2018.

Members of the Air Serbia’s supervisory board thanked Etihad Airways for its comprehensive support that it said was “instrumental in maturing Air Serbia into what it is today”.