Serbia's national airline, Jat Airways, is to rebrand as Air Serbia following Etihad's investment in the carrier. The national carrier of the United Arab Emirates (UAE) is to take a 49 per cent stake in the Serbian carrier and has been awarded a five-year contract to manage the airline. Air Serbia will have its own logo and new red, white and blue colour scheme. "The change signals not only a rebranding of the former Jat Airways, but a whole new identity, affirming that Air Serbia will be a completely different airline," Etihad said in a statement. “This is not just a change in strategy,” said president and CEO of Etihad, James Hogan. “It is a package of changes so significant that the airline requires a change of identity and appearance.” Dane Kondic will continue to head the company as its CEO.