Saturday, July 23, 2011

Aid for Montenegro Airlines

Government writes off debt
The Government of Montenegro has announced it will write off 3.2 million Euros of debt amassed by the national carrier between 2002 and 2006. The government said the cash injection will be treated as state aid. Earlier in the year it was revealed that Montenegro Airlines has significant financial problems and was forced to terminate flights to 2 destinations as a result. More recently, the operator of Montenegro’s two international airports said that the national carrier owes 6.2 million Euros to Podgorica and Tivat airports. The airline has already received 9.6 million Euros from the government this year (4.6 million for opening new destinations, 4 million for the purchase of new aircraft and the rest for the overhaul of a grounded Fokker F100).

The President of the Financial Board of the Montenegrin Parliament criticised the government’s action stating, “This is the government’s most beloved company and it will always come out and help it. This is bad news because 3 million Euros will be paid by someone else; by the citizens, unemployed, workers and other companies in need of aid”.

Zoran Djurišić, Montenegro Airlines’ CEO, was elected for another term at the helm of the national carrier by the Montenegrin government earlier last week. He has led the airline for the past 17 years.


  1. do they stil own money to PRN and SKP?

  2. Peter from SydneyJuly 23, 2011 at 1:25 PM

    Zoran Djurišić must be the world's best CEO being in the same position for 17 years and having relatively nothing to show for it, or he's taking some on the side.

  3. The best regional airline !

    At least they owe in comparison to other airlines (JAT, Adria, Croatia, Matt ...),they has the newest fleet and the youngest staff and employees.
    The only flying and connecting South and Nis with Europe.

    Bravo Mont Air !
    Travelers are with you

  4. YM should pay 340,000 (400,000 minus 40,000 paid to release their aircraft) EUR they own to PRN and return those beautiful birds. I miss the new Embraer E-195LR(s) over our skies. The fares were not bad either ;)

  5. The flight attendants are anyhow rude and uninterested. I guess this is nothing new for Balkan airlines.

  6. LOL yeah, that's the best pay-for-performance CEO I've heard of. They should give each and every Montenegrin taxpayer 20% off flight vouchers with YM.


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