The President of the Board of Directors at Montenegro Airlines, Daliborka Pejović, has resigned from her post following three years at the company's helm. Her replacement will be known on January 27. The move comes just six months after Ms Pejović secured a second three-year term in the post. Montenegro Airlines faces financial issues and significant debt, most of which was inherited from the previous management. Under Ms Pejović's tenure, the carrier devised a recovery plan with the aim to cut both losses and debt. However, the company ended 2015 with a record net loss of 10.4 million euros, the highest of any national carrier in the former Yugoslavia. During the year, the airline was forced to sell some of its property, discontinue the financial lease of an Embraer E190 jet and faced continued pressure from employees over unpaid wages. Under Ms Pejović's leadership, Montenegro Airlines forged closer ties with Air Serbia and Etihad Airways. No reason has been given for her resignation. Ms Pejović, a high-ranking member of the governing Democratic Party of Socialists (DPS), has previously held posts at the Ministry of Culture, the state-run enterprise Museums and Galleries of Podgorica, the national Health Insurance Fund and is currently also serving as the State Secretary at the Ministry for Sustainable Development and Tourism.