Air Serbia posts record profit and repays state aid

NEWS FLASH


Air Serbia has recorded a net profit of 22.4 million euros during first half of the year, marking the company’s best financial result since its rebranding ten years ago. In a statement, the carrier said, “Bearing in mind the good financial result, Air Serbia, in accordance with local laws and respecting the legislative framework of the European Union, has decided to pay back twenty million euros to the Republic of Serbia, based on funds received through the recapitalisation procedure. Air Serbia also thanks the Government of the Republic of Serbia for its support and emphasises that it will continue to fulfill its obligations under the Recapitalisation Agreement”. Last September, the Serbian government recapitalised the airline by paying 15.5 million euros for newly issued shares, increasing its stake in the company to 83.58%, while the remaining 16.42% is owned by Etihad Airways. The state previously recapitalised the airline in 2021 to alleviate the effects of the coronavirus pandemic, amounting to 100 million euros.

Comments

  1. Anonymous10:31

    Is there any chance of Air Serbia buying out Etihad or even Serbian government?

    ReplyDelete
    Replies
    1. Vlad12:01

      I think it's highly likely that the EY investment will be liquidated/repurchased in the next 12 months.

      Delete
  2. Anonymous10:31

    Bravo Air Serbia 🇷🇸🇷🇸🇷🇸

    ReplyDelete
  3. Anonymous10:34

    Very good result, hopefully they invest it into more growth as you can't shrink yourself into profitability.

    Now it's time to work on improving salaries and work conditions.

    ReplyDelete
    Replies
    1. Anonymous10:38

      If they outsource the workers, there's not much they can do

      Delete
    2. Anonymous12:07

      Now it`s time to combat rising fuel prices...

      Delete
    3. Anonymous14:33

      How about they combat constant delays??? First it was the regional and domestic flights that were delayed, now even flights to JFK and ORD are delayed for several hours at times. I can't imagine the penalties and fees they will have to absorb for paying the passengers who missed their connections and luggage. Those passengers will never come back again.

      Delete
    4. Anonymous18:59

      That's what you said last summer yet they came back and more. No real expert would say passengers will never come back again.

      Delete
  4. Anonymous10:39

    JU next year.
    ATR - extended fleet without the need for ACMI.
    A330 - third machine and flights to China.
    ERJ-190/195 - 3 units (filling the gap between ATR and A319).
    A319, A320 - looks like you'll need to add ACMI again.

    ReplyDelete
    Replies
    1. Anonymous10:41

      So they need at least 5-6 A320s.

      Delete
  5. Anonymous10:44

    No way! Experts were writing here Air Serbia does not get state aid at all.

    ReplyDelete
    Replies
    1. Anonymous10:47

      It was a recapitalization, which was widely written about and is in line with EU regulations.

      Delete
    2. Anonymous10:48

      Hey he had to spit venom about something.

      Delete
    3. Anonymous10:52

      Doubt we will ever see any other ex-yu company repay the debt to the state...

      Delete
    4. Anonymous11:59

      "Experts" would sent 3 questions to JU, they dont believe to them.

      Delete
    5. Anonymous19:05

      +1

      Delete
    6. Anonymous06:30

      In Serbian this is called позајмица оснивача meaning the founder of the business lends money to his business. In this case this is the Serbian government. For JU it was basically an unpaid invoice. Like this they will reduce their outstanding debt and further improve their financial standing.

      Paying this back makes a lot of sense.

      Delete
  6. Anonymous10:53

    I meant airline, of course

    ReplyDelete
    Replies
    1. Anonymous11:10

      O....k............

      Delete
  7. Anonymous11:12

    Bravo, AS. Well done.

    ReplyDelete
    Replies
    1. Anonymous05:00

      It’s JU not AS FFS

      Delete
  8. Slav.Man12:48

    Great news, and hope it grows to be great source of income for the country.

    ReplyDelete
  9. pozdrav iz Rijeke12:50

    Jasmineeeeeee!!! Dje si? Sa 'ima? Pije li se kahva? Nego kol' ko cemo ono mi jos pljunit milijuna eurica za "brand new shiny A220 fleet" koji ce pravit profit Mutti Luftiki?

    ReplyDelete
    Replies
    1. Anonymous13:02

      Pije se kahva u Vrankvurtu danas 🤣🤣🤣

      Delete
    2. Anonymous14:03

      Where is the ''taxpayers money guy'' now...?

      Delete
  10. Anonymous19:26

    I don't get the point of this legislation, why shouldn't the state subsidize air travel like it does every other form of transportation?

    ReplyDelete
    Replies
    1. Anonymous21:52

      The point of the EU laws is to protect Western Europian flag carriers by keeping Central and East European airlines from developing.

      Don't forget, all the legacy airlines from west Europe had decades of huge subsidies and investments before such laws existed. Now those airlines are strong.

      Delete
    2. Anonymous23:55

      While legacies of nonWestern Europe at that same time were operating according to the rules of free market??? Get some history books asap.

      Delete
    3. Anonymous04:45

      Bozo,

      There was a little thing called economic transition which ruined all the eastern flag carriers.

      Delete

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