Air Serbia's CEO resigns

Dane Kondić has resigned from his post as the CEO of Air Serbia for personal reasons after more than four years at the company's helm. Duncan Naysmith, who is currently the airline’s Chief Financial and Business Transformation Officer, has been appointed as Interim Chief Executive Officer while the airline embarks on a search for a permanent replacement for Mr Kondić. Consistent with the company’s leadership transition plan, Mr Naysmith will assume full management responsibilities effective immediately, with a handover period in place until Mr Kondić leaves Air Serbia at the end of January 2018. The development comes just a week after the Emirati carrier replaced the head of Air Seychelles in which it owns a 40% stake. Mr Kondić was initially contracted to run Serbia's national airline for a five-year period. He became the CEO of Jat Airways in September 2013 and steered the carrier's relaunch into Air Serbia. He is credited with managing the airline through its transitional period, which resulted in fleet and product renewal, the resumption of transatlantic flights, significant growth in passenger numbers, as well as three consecutive years of profit.

The Chairman of Air Serbia's Supervisory Board, Siniša Mali, said, “On behalf of the Supervisory Board, I extend my personal thanks to Dane Kondić, who, during his tenure, has overseen a period of significant achievements and milestones including the expansion of the route network, which extends as far as New York, the upgrade of the product, the introduction of a modern fleet, and an improved financial performance". He added, "Duncan Naysmith is an experienced leader and has the complete confidence of the Board as we reposition the business for continued development". Kevin Knight, Etihad Aviation Group Chief Strategy and Planning Officer and Vice Chairman of the Board of Air Serbia, said, “Air Serbia has made great strides in all areas of its operations since its launch in 2013 and stands today as an excellent example of a successful corporate transformation. Dane Kondić has successfully led this part of the Air Serbia story and we thank him for his tremendous contribution and dedication". He added, “The new leadership will focus on a clear strategy to meet the challenges ahead and ensure a sustainable and prosperous future for the airline. We know we can rely on Duncan Naysmith’s proven skills and experience to lead Air Serbia during this time. Etihad is committed to providing its expertise and on-going support to Air Serbia both as a major shareholder and partner".

Mr Kondić was born in Sydney to Serbian parents. He graduated economics at the University of New South Wales in Sydney and started his career with Qantas before becoming the General Manager of Worldwide Sales at Malaysia Airlines. He subsequently moved to take on the role of managing a tour operator, and was heading the North Asia region for a major wholesaler, based in Hong Kong before taking up a post at Etihad Airways. Mr Kondić become the first non-political appointment to head Serbia's national airline. However, his critics have noted that the company's initial strategy was a miss, which has resulted in a year of cost cutting and rationalisation, and that the airline would have struggled had it not received financial support from the Serbian government.

Duncan Naysmith

In July, Air Serbia announced solid half-year operational results, carrying 1.12 million passengers during the first six months of 2017, representing an increase of 3% over the same period in the previous year, and achieving an average load factor of 70.5%. The airline’s cargo operations also recorded significant double-digit growth of 54.6% over the corresponding period in 2016.