Serbia's flag carrier is to double its number of flights to European destinations and could fly to the USA "much sooner" than an estimated start date of 2016, says the nation's deputy prime minister Aleksandar Vučić.
He foresees Air Serbia being profitable "within a year".
As a potential precursor to its own direct transatlantic routes, the airline is to place its code on New York and Chicago services operated by Air Berlin, which, like Air Serbia, is part-owned by Etihad Airways.
Vučić says Air Serbia, formerly known as Jat Airways, will become the "strongest airline in the region" and could seek to purchase stakes in other carriers.
Slovenia's Adria Airways, Bosnia's B&H Airlines and Croatia Airlines are all seeking investors.
Belgrade-based Air Serbia started operating under its new brand name on 26 October. Its first aircraft, a leased Airbus A319 (MSN 2621), has been named after tennis star Novak Djokovic as part of a plan for aircraft joining the fleet to be given monikers that honour "living Serbian legends".
The airline is to receive six leased A319s by year-end, and four more A320-family jets next year.
Five ATR 72 turboprops that were operated by Jat are to be fitted with new interiors.
Air Serbia says it is consider the Airbus A320neo, Boeing 737 Max and Bombardier CSeries for the next phase of its fleet renewal.