Saturday, December 29, 2012

Montenegro ends 2012 on a high

More passengers on board Montenegro Airlines' jets

Montenegro Airlines handled 601.000 passengers this year representing an increase of 6% compared to 2011. The result is still some way off from its 2010 record when it welcomed 630.000 passengers on board its aircraft. The airline says that despite a tough financial year its results are steadily improving and the carrier has seen growth in all sectors, making it one of the most successful in Europe and the most successful in the region.

Earlier this year the Montenegrin government provided some 36 million euros to the company in order for it to pay off its debt and restructure. A plan to privatise the national carrier has been postponed indefinitely. Over 2013 the airline will continue operations with its existing fleet of eight aircraft, while a new Embraer jet will join its flock in 2014.

 Montenegro Airlines ended 2011 with a loss of just over five million euros. The airline says its finances will depend on sound business decision but also global fuel prices. The carrier did not mention its losses for 2012, only noting that its revenue has increased by 7% compared to last year. Several months ago the Montenegro State Audit Institution accused the national carrier of covering up millions in debt, a claim the airline has completely denied.

17 comments:

  1. Although I like MGX and its service it is such a shady and corrupted airline… the bubble will burst one day sooner or later.

    ReplyDelete
  2. One of the most successful in Europe? Taking the Montenegro GDP and population, the size of the airline into account it is one of the WORST PERFORMING! It is continuosly hiding it's real losses and not publishing any balance sheets.
    It survives only because it is one of the pillars of the "nation building" strategy, similar to BH Airlines.

    ReplyDelete
  3. Poor strategy and debts left behind.. They owed money to several airports. For example. Company doesn't have flights to Brussels even tough every week at least one delegation go from Montenegro to negotiate with EU for membership.. Instead of direct flights delegation is forced to travel trough other carriers and pay extremely expensive tickets..

    ReplyDelete
    Replies
    1. And for one delegation you must have direct line?

      Delete
  4. At least Montenegro have a modern fleet!

    ReplyDelete
  5. What kind of service do they provide on their flights?

    ReplyDelete
  6. There is one regional airline who managed to have two stupid incidents in one day. Guess who?

    http://www.aviokarta.net/vesti/1600-dva-incidenta-juce-sa-avionima-turkish-airlinesa/

    ReplyDelete
    Replies
    1. The idiots from TK of course, who else.

      Delete
  7. Tk are always having incident's!

    ReplyDelete
    Replies
    1. No one could beat Jat in Performance.
      lol.

      Delete
    2. Well Jat win the award for having the oldest fleet of aircraft in Europe! LOL!

      Delete
    3. That's what makes JAT so unique perhaps they should use it in their marketing, we are oldest airline in Europe, I mean literally, you dream of good old 80s, service, interior and charm than you should fly with the JAT "Joke About Time", we deserved it.

      Delete
  8. Montenegro Airlines is just a normal airline. At least the country has a national carrier with a nice logo and decent destinations. What's the problem?

    ReplyDelete
    Replies
    1. Lack of profitability.

      Delete
    2. It's still far better than B&H Airlines, for a country whose population is like 8 times smaller, they manage to have an airline while the idiots in BH have nothing...

      Delete
  9. definition of an national airline in every part of the world:
    Lack of profitability...

    ReplyDelete

Before posting a comment be mindful of other participants and readers. EX-YU Aviation News does not tolerate insults, excessive swearing, racist, homophobic or any other chauvinist remarks or provocative posts with the intention of creating further arguments. Such comments will be deleted as soon as possible. The opinions expressed by those providing comments are theirs alone, and do not reflect the opinions of EX-YU Aviation News. Thank you for your cooperation.