Kovacevic: “Serbia gave away $96 million to Etihad”

Vladimir Kovacevic from the opposition’s People’s Party (Narodna Stranka) said that, by purchasing an additional 31% share in Air Serbia, which used to belong to Etihad, for 100 million euro, the Serbian government made it possible for in the UAE-based aviation company to earn 96.1 million dollars on that transaction alone.

“The price at which the government of Serbia had sold 1% of the share to Etihad in 2013 was $816,000. The price at which it purchased that share in 2020 is $3.96 million. The gain for Etihad is $3.1 million for 1% of the share, and thus for 31% of $96.1 million; at the same time the Emirates company kept an 18% share in Air Serbia,” Kovacevic said.

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Kovacevic, who is also chairman of the People’s Party Committee for Economy and Entrepreneurship, added that the government’s decision, made in late December, to buy additional stake in Air Serbia at the said price is “another in a series of paradoxes that raises the suspicion of money laundering.”

“The government members have not learned the basic rule that you buy low and sell high, but do the exact opposite because they think that their ignorance, mistakes and arrogance will be paid for by taxpayers anyway,” Kovacevic concluded.

(Nova, 05.01.2021)


This post is also available in: Italiano

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