Air Serbia has repaid Etihad Airways Partners BV on an outstanding loan of USD 63 million. Last year, the carrier repaid a $52,9 million loan.
This means that all loans that were granted around six years ago have now been paid off. Etihad Airways has been wanting to exit Air Serbia for some time. The stake is a relic of the Hunter strategy pursued under former company boss James Hogan. Most group members no longer exist.
Bonds were issued via Etihad Airways Partners BV, among others. A total of around 700 million US dollars were collected at the time. With the exception of Air Serbia and Etihad Airways themselves, the loans are non-performing. Air Seychelles, Alitalia, Air Berlin and Jet Airways have not repaid their loans. Etihad also recently put up for sale the receivables it has from the Italian and former German airlines.
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