Golf carrier Etihad Airways has again reduced its stake in Air Serbia. It sold more shares to the Serbian state, leaving it with only 16,42 percent.

The government put around $15,2 million on the table for the share package and increased its majority stake to 84,58 percent. Etihad Airways has bought 1.818.820 shares. Registration in the Central Register of Securities of Serbia has recently taken place.

Air Serbia emerged from JAT Airways. At the start of the project, the golf carrier held a 49,9 percent stake. Unlike other airlines - such as Air Berlin and Alitalia - the Serbian company made ends meet. This is attributed in particular to the fact that the government stepped in after Etihad decided to phase out many holdings.

The Gulf carrier currently holds 16,42 percent in Air Serbia. It is likely that the remaining shares will be sold to the Serbian state at a later date. However, there is no exact schedule for this yet.