The Prime Minister of Serbia Aleksandar Vucic says Air Serbia (JU, Belgrade) is planning to acquire other airlines in the Balkans as part of its expansion plan.

According to B92 Radio, Vucic made the remarks during a press conference to mark Air Serbia's second birthday. Air Serbia was formally established in August 2013 when Belgrade agreed to dispose of a 49% stake in then national carrier Jat Airways (Belgrade) to Etihad Airways (EY, Abu Dhabi International) for USD200 million.

Since then, Air Serbia has gone on to register strong results posting a EUR2.7 million (USD3 million) profit for its first financial year, a complete turnaround from its 2013 EUR73 million net loss.

Among the strongest possible contenders for acquisition is Montenegro Airlines (Podgorica) which recently signed a Memorandum of Understanding (MOU) with Etihad for a proposed strategic partnership. Under the terms of the deal, Etihad will help foster stronger ties between the struggling Montenegrin carrier and its growing portfolio of European airlines.