Corporate Restructuring in the Economy of the Tourism Sector: A Case Study of Air Serbia

Abstract

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.