Dubai: Etihad Airways has secured the approval of Serbian regulatory authorities for it take a 49 per cent stake in Air Serbia.
In August 2013, Etihad announced it would inject $200 million (Dh734.6 million) into the struggling Serbian national carrier as part of its bid to become a minority stakeholder.
Etihad’s initial loan of $40 million to Air Serbia will now be converted to equity.
The two airlines already have a codeshare agreement with Air Serbia flying from Belgrade to Abu Dhabi.
