Etihad Airways receives approval for stake in Air Serbia 

(MENAFN) Etihad Airways announced that it received government and regulatory approvals, consents and permissions to take a 49 percent stake in Air Serbia, Arabian Business reported



The president and CEO of the Abu Dhabi-based carrier said that an initial USD40 million loan will be converted to equity



The Serbian government had earlier last year signed a long-term agreement with Etihad Airways, and unveiled a USD200 million plan to revitalize Air Serbia



The president and CEO said: "I am pleased to confirm Etihad Airways is now the shareholder of 49 percent of Air Serbia.