Air Serbia celebrates new Airbus delivery
Abu Dhabi, October 19, 2013
Serbia's national airline Air Serbia, currently being re-branded from Jat Airways after its strategic partnership with UAE national carrier Etihad Airways, celebrated the successful touchdown of its first Airbus A319 in new livery at Belgrade on Saturday.
The new Airbus fleet was received by the airline's CEO Dane Kondic with a traditional water salute, said a statement from the Serbian carrier.
As per the deal, Etihad Airways will acquire 49 per cent of Serbian flag carrier and also run the management for five years.
Within the agreement Etihad will provide a $40 million loan facility which will be converted into equity on January 1, 2014. This will be matched by an equal funding injection by the Government of Serbia.
Etihad and the Government of Serbia will also each provide further funding through shareholder loans and other funding mechanisms of up to $60 million to meet working capital requirements and support network development for the newly created Air Serbia.
The partnership includes a fleet of new aircraft and a new integrated network of international destinations enabling greater access for business and leisure travellers to Serbia.
Founded in 1927, the airline serves more than 30 Euro-Mediterranean destinations, and offers long-haul and international destinations in Asia, Australia and the Americas through its codeshare partners.-TradeArabia News Service
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