Another recapitalization of Air Serbia has been completed and Serbia is now officially the owner of 83.58 percent of the country's flag carrier, N1 reported on Wednesday.

The Serbian government purchased 1,818,820 newly issued Air Serbia shares, so the ownership stake of the Abu Dhabi-based Etihad Airways dropped to 16.42 percent.

Combined with an earlier recapitalization in December 2020, the state increased its share in the capital of Air Serbia by a total of €115 million.