Sunday, December 13, 2009

Wish list

El Al lays down the terms
El Al Israel Airlines has sent a written letter to the Prime Minister of Montenegro, Milo Djukanović, and once again re-affirmed its intent to purchase Montenegro Airlines. The Israeli national carrier compiled a list of terms under which it would buy the Montenegrin carrier. According to Montenegrin media, along with buying Montenegro Airlines, El Al also wants to gain control over Montenegro’s 2 airports - Podgorica and Tivat and manage both of them for the following 10 years. However, the Montenegrin Government would, within those 10 years, continue to finance both of the airports and continue to allocate funds for their development. According to the Montenegrin daily “Vijesti”, the Israeli carrier also wants to be allocated land on which it would build its offices because El Al wishes to make Montenegro its Balkan base.

One of the most explicit demands that El Al has made on its wish list is that it wants the Montenegrin Government to continue funding Montenegro Airlines’ fleet renewal. El Al is interested in purchasing 30% of the airline’s shares, together with the European Bank for Reconstruction and Development. Any of Montenegro Airlines’ potential buyers will be given only 1 seat on the airline’s board of directors. The 30% of the airline’s shares are estimated to amount to 15 million Euros. Montenegro Airlines would invest the money in its fleet.

El Al Israel Airlines is the national carrier of Israel. It operates to approximately 40 destinations with a fleet of 37 aircraft. Israeli companies have recently begun investing large sums of money in various projects across Montenegro.

7 comments:

  1. Omg ok... this is strange and odd. I am sure they know what they are doing!

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  2. Very manipulative of EL AL, if this deal goes ahead it will be embarrasing and disastrous for Montenegro's tourism.

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  3. For me this is not a commercial move. What does EL AL have to do with airports? I think that the Israeli Government is behind that and that we will see soon lots of Israeli agents, planes etc. around Montengro. God knows what's really behind that.

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  4. Cool I am sure they are going to use Podgorica as a stop for their south and north american flights XD

    Let's see what happens, hopefully there will be more success than TK had in Bosnia

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  5. what a choice to choose from, a couple of crim governments to run things. nice. surprising how there is no offer from Thaci or Sejdiu or the UCK? ;-)

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  6. @ Anonymous #2,

    Not a government conspiracy, just $$$. Magazines like the Economist, and other leading publications have speculated that Adriatic Coast is turning out to be the next big thing. Croatia is out because it is very close to EU (too many laws to worry about), and Montenegro may be a good place to invest. The Russians have been doing it for several years, and looks like the Israeli gov't want to capitalize on that.

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  7. Montenegro is a theocracy, their supreme leader Milo Djukanovic is the alpha and omega and standard laws are not necessary when the big father is there!

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