Business Finance

Air Serbia posed to post a profit in 2022 off Russian travel

Serbia has now gone all in—or almost all in—when it comes to Air Serbia, with the government having raised its stake to 83.58 percent last month through a purchase of 1,818,820 shares for a value of USD 15.2 mln.

The Serbian government now holds USD 110 mln in shares, as cited by, with Etihad holding the remaining 16.42 percent of shares.

The move may be eye-raising, as world airlines suffered during COVID and then struggled mightily in the wake of the pandemic, with a shortage of staff and rising costs for workers and fuel. That said, Air Serbia has taken advantage of regional route expansion, as well as increased Russian traffic since, and with all due respect, Russians now have few European destinations still open to them.

“This year we are aiming to be profitable and we will continue to be on that path in the future as well,” said Air Serbia CEO Jiri Marek, as cited by “We want it to stay like that. Air Serbia will continue to be the leading regional carrier in the Balkan region.”

Photo credit: Adam Moreira (AEMoreira042281), CC BY-SA 4.0 <>, via Wikimedia Commons.

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