Air Serbia has settled all of its remaining obligations towards EA Partners I in the amount of $57.62 million on the basis of a long-term loan taken in 2015, which matured on 28 September.
In a release, the Serbian national airline expressed its “great satisfaction” that it has paid its liabilities independently, thanks to what it calls “responsible business before the coronavirus pandemic, as well as extensive austerity measures at all levels” during the pandemic.
"The payment of this loan is proof of sound and responsible management of Air Serbia before and during the crisis, and during the recovery from the consequences of the pandemic,” said Duncan Naysmith, CEO of Air Serbia. “The Serbian national airline will remain committed to the interests of its shareholders, employees and passengers and will take all measures necessary to protect the company and ensure its successful development. During the suspension of commercial passenger traffic, Air Serbia started a series of programs aimed at working with business partners, implementing austerity measures and maintaining liquidity, as well as improving business processes and services for our passengers. All these programs will continue to be delivered". He added that he "thanks all partners, competent institutions and employees for their co-operation in the remedial actions from the consequences of the coronavirus pandemic, and that community cooperation is crucial, as we are stronger together.”
