State Allocates EUR15.47 for New Capital Boost for Air Serbia

Air Serbia (BETAPHOTO/Air Serbia/Dusan Atlagic/DS)

The Serbian state will pay the domestic Air Serbia airline RSD1.82 billion or EUR15.47 million, which will increase its stake in the company by 83.58 percent, while Etihad Airways' stake will go down to 16.42 percent, the N1 website reported on Sept. 22.

The payment, which was okayed by the shareholders, will be conducted via a capital boost which will give the state of Serbia another 1.8 million shares in the air carrier. The state will pay RSD1,000 per share. Together with a previous boost in December 2020 the state will raise its stake in Air Serbia's capital by a total of EUR115.47 million.

"This is a decision to increase Air Serbia's capital with new investments, by issuing 1,818,820 regular shares to the Republic of Serbia, without publishing a prospectus," the decision on the seventh emission regular shares to boost Air Serbia's capital states.

The emission of shares is closed, eliminating the need for releasing a prospectus. At a session of the commission for oversight on Aug. 29, two proposals were adopted, a decision on emitting shares, and the other a decision on the pre-registration of shares. These proposals were adopted by Air Serbia's shareholders' assembly at a session on Aug. 30, 2022.