The circular economy is the antithesis of the current linear model of an economy based on uncontrolled exploitation of natural resources and flow of materials (factory -user -landfill). The principle of the linear economy has a take-do-throw base, while the circular economy has a wider take-do-fix-reuse-recycle base. There is a great need for a circular economy in the world, with recycling being considered the leading instrument of this model of economy. Therefore, the aim of our work is to show that the circular economy is imperative for sustainable development in North Macedonia and Serbia. The paper is conceived in three parts. The first part is based on the analysis of the advantages of circular economy in the countries of the European Union. The second part presents the circular economy as a chance for sustainable development of the Republic of North Macedonia, while the third part is based on the circular economy as a required condition for sustainable development of the Republic of Serbia. The methodology used in this paper is based on qualitative research techniques, i.e. analysis, comparative analysis, and synthesis. The authors conclude that it is necessary to urgently establish the circular economy model and create an appropriate legal framework in these countries, following the example of leading European countries.

The main objective of this research is to analyze the effects of the implemented corporate restructuring process on the example of the Serbian national airline company. In addition, the purpose of this chapter is to discuss the management approaches, forms, specific goals, business performance and results, but also the benefits of the corporate restructuring of Air Serbia on national tourism and the economy. Since competitive national airline contributes to the development of the Serbian tourism sector, this chapter emphasizes the economic dimension and importance of the transformation process, creating new added value and employment, as well as multiple effects on overall local and regional development and complementary activities. Thematically, the content is focused on reviewing various forms of corporate restructuring, change of management model, ownership and organizational structure, application of new strategies, and achieved financial results, as indicators of the success of corporate restructuring, with special reference to the impact of COVID-19 on Air Serbia. The methodological framework includes desk research and a case study method based on data collection and analysis, synthesis of theoretical and empirical facts, and using available sources related to the research topic.