Air Serbia, Etihad partnership get green signal
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Etihad Airways recently confirmed today that requisite government and regulatory approvals, consent and permissions sanctioning for the strategic partnership between Air Serbia and Etihad Airways, have now been obtained.
On 1 August 2013, the government of Serbia signed a strategic, long-term agreement with Etihad Airways, and unveiled a US$200 million plan to revitalise Air Serbia.
President and chief executive officer of Etihad Airways, James Hogan, said that as a result of confirmation of requisite regulatory approvals, the initial loan to Air Serbia of US$40 m will be converted to equity.
“We are now the shareholder of 49% of Air Serbia. This investment represents an important partnership with the government of Serbia, as we work together to build Air Serbia in the region,” added Hogan.
Chief executive officer of Air Serbia, Dane Kondić, said: “Air Serbia has a strong business plan, and a clear government mandate, to be a safe and profitable airline.”
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