Air Serbia posts record profit and repays state aid
NEWS FLASH

Air Serbia has recorded a net profit of 22.4 million euros during first half of the year, marking the company’s best financial result since its rebranding ten years ago. In a statement, the carrier said, “Bearing in mind the good financial result, Air Serbia, in accordance with local laws and respecting the legislative framework of the European Union, has decided to pay back twenty million euros to the Republic of Serbia, based on funds received through the recapitalisation procedure. Air Serbia also thanks the Government of the Republic of Serbia for its support and emphasises that it will continue to fulfill its obligations under the Recapitalisation Agreement”. Last September, the Serbian government recapitalised the airline by paying 15.5 million euros for newly issued shares, increasing its stake in the company to 83.58%, while the remaining 16.42% is owned by Etihad Airways. The state previously recapitalised the airline in 2021 to alleviate the effects of the coronavirus pandemic, amounting to 100 million euros.

Article source: http://www.exyuaviation.com/2023/08/air-serbia-posts-record-profit-and.html

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