Report by : Gan Yung Chyan, KUCINTA SETIA
According to Reuters, the Serbian government reinvested in Air Serbia, raising its stake from 51% to 82%. Etihad Airways’ shares fell from 49% to 18%.
Air Serbia stated that the government's move was to help it tide over the crisis.
In 2013, Etihad Airways acquired 49% of the loss-making JAT Airways, and then the company was renamed Air Serbia. Etihad Airways confirmed that its shares were diluted to 18%.
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