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Etihad’s 49% Stake in Air Serbia Approved by Serbian Government

Skift Take

Etihad’s equity in Air Serbia is the largest of any of its airline partners and part of a network that helped Etihad increase its profit by 48 percent in 2013.

— Samantha Shankman

Gulf-based carrier Etihad Airways says it has received regulatory approval from the government of Serbia for its 49 percent stake in the Balkan country’s national carrier, Air Serbia.

The United Arab Emirates’ national carrier Etihad said Tuesday in a statement that its initial loan to Air Serbia of $40 million will now be converted to equity. Eithad had announced a $200 million plan to rebrand Air Serbia in August.

Etihad also owns stakes in Air Berlin, Air Seychelles, Ireland’s Aer Lingus and India’s Jet Airways. The airline is waiting for regulatory approval for a 33.3 percent shareholding in Darwin Airline, a regional carrier based in Switzerland.

Etihad, which was set up in 2003 and is based out of Abu Dhabi, is one of three major Gulf airlines.

Copyright (2014) Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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