Wednesday, October 4, 2017

Montenegro Airlines' account blocked

NEWS FLASH


The Montenegrin Central Bank has again blocked Montenegro Airlines' account due to outstanding debt. The national carrier owes 17.8 million euros to Airports of Montenegro, fourteen million euros in state taxes for unpaid wage contributions since 2012, 4.5 million euros to Celestial Aviation Trading, 1.7 million to Embraer, 1.5 million euros to Belgrade Airport, 790.000 to fuel provider Jugopetrol, 702.000 to Eurocontrol and 415.000 euros to the Generali insurance company in Belgrade. During the summer, the Serbia and Montenegro Air Services Agency blocked Montenegro Airlines' account for outstanding debt amounting to 2.3 million euros, however, following an intervention by the Montenegrin government, the account was restored. Montenegro Airlines has been struggling with outstanding debt and multi million euro losses for years. Its accounts have been frozen in the past. At the end of 2016 there were 91 court cases pending against the airline. The carrier recently said it was continuing to stabilise its business and working hard on drafting a plan for the next three, five and ten years. 

11 comments:

  1. Sad. How the hell cant they start making some money? It is not like they have a huge fleet with 100 destinations. Flying constantly full all summer to Belgrade alone should lead to some profit, no?

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  2. I wonder how is it even possible for such an airline to still be flying with such a debt? I guess this is only possible in the Balkans!

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  3. I remember when Malev went off, Tel Aviv airport seized one of its planes. Belgrade airport could do the same in this case.

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    1. That won't happen here, it would be a diplomatic scandal.

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    2. Actually, TLV grounded the plane due to unpaid bills. That got the ball rolling from which there was no turning back.

      YM is a political project and as such it will live on.

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  4. Anon 3:54.
    U Vasem tekstu rekli ste sve. Balkan je cudo! Ljudi sa njega najvecim delom jos vece cudo. Komunizam i monopol je ostavio pustos u ponasanju ljudi i autoriteta. Nema ozbi
    Jnosti, organizacije i odgovornosti. Balkan je cudo od poluostrva...

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    Replies
    1. kakav komunizam kada Milo ima podrsku i Arapa i Amera.

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    2. Demokratija je čudo.

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  5. Now, in a normal world, the company with blocked account(s) would have a very hard time proving to the relevant authority that they have the means for continuous flight operation.

    In the Balkans however....

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  6. Everything became worse when political management entered in the Board .Daliborka Pejovic sent Montenegro Airlines in the bankrupty

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  7. Maybe IATA can do us all a favour and kick them out of the BSP/Clearing House. That would be the last nail in the coffin.

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