Air Serbia received 64 billion dinars of financial aid from Serbian government

The Serbian government paid 63.8 billion dinars, or 545 million euros, to the national airline Air Serbia, from the moment the company was established ten years ago until the end of 2022.

 This is what financial analysts say, based on an insight into the 2012 financial report of Air Serbia’s predecessor, JAT, and Air Serbia’s financial reports from 2013 to 2022.

The calculation shows that the inherited debts that the government undertook to pay before Etihad Airways bought a share in Air Serbia stood at 22 billion dinars. Furthermore, Air Serbia received state subsidies on several occasions from the very beginning, that is, since its establishment, on different grounds.

In 2014, 2015 and 2016 alone, subsidies in the amount of 14.4 billion dinars were paid, while in 2017, the Serbian national airliner received a subsidy of 1.4 billion dinars from the Ministry of Tourism, which it did not record as income in its financial reports.

Also, after the outbreak of the coronavirus pandemic and the suspension of air traffic, the state recapitalized the company in two stages, first in December 2020 with 11.5 billion dinars, and then in 2022, with 1.8 billion.

Since Etihad Airways refused to do the same, the Serbian government’s share increased as a result of recapitalization while Etihad’s decreased. When Etihad decided to exit ownership of Air Serbia, its share stood at 16.42%.

(Biznis.rs, 23.11.2023)

https://biznis.rs/vesti/drzava-uplatila-gotovo-64-milijarde-dinara-pomoci-kompaniji-air-serbia/

This post is also available in: Italiano

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