Privatisation advisor chosen

December 15 deadline for Montenegro Airlines sale
The company that will advise Montenegro Airlines in its privatisation attempt has been chosen. A consortium comprised of the companies Eurofast, Raiffeisen Investment AG, Eurofast Global and Babic & Associates won the privatisation advisor tender, the Privatisation Council of the Government of Montenegro announced earlier this week. Thirty percent of the airline’s shares are up for sale. The Government did not set a starting price for the offered share package.

No one has expressed interest to purchase the Montenegrin national carrier so far. Last year, El-Al Israel Airlines was a potential buyer but their request to control both Podgorica and Tivat airports was unacceptable to the Government. Airlines have up until December 15, 2010 to send in their bids. Potential bidders must have at least 5 years experience in the airline industry and a fleet of at least 10 aircraft, and have carried at least 2 million passengers in 2009.

Which airline would be the best potential buyer? Share your thoughts.


  1. JU520 BEGLAX09:22

    Too many airlines in the ex YU region that s why all have problems. Let YM go bankrupt, no need for them....

  2. Anonymous09:36

    Seems like someone is a bit jealous. I'd rather see the dedo airline Jat be put out of its misery.

    Slow and inactive carriers were a thing of the past, the future has no room for them.

    Love to see Emirates take control of YM.

    I think they are a great investment, seems like the Israelis were the only ones to see this. Lets see if they come round again.

  3. Anonymous10:28

    As far as I am concerned, Montenengro has to have its national airline. It does not matter if the majority stake will be in control of any other airline as long as The Republic of Montenegro Governement has stake big enough to protect the interest of Montenegro and the airline industry on their own territory. I wish our national airline, Croatia Airlines, was privatised.

  4. Anonymous11:34

    I only hope the future owner won't be from the Star Alliance. They already control a lot of Ex-Yu carriers.

  5. Anonymous11:42

    Emirates controlling Montenegro, Monetenegro Airlines being a good investment?
    Please pass the good sh*t you have been smoking over here.

    I have to go with JU520BEGLAX on this one. Montenegro doesn't really need an airline, it's too small. Anyone who can compare Jat and YM should be banned from the world of aviation ;)

  6. Anonymous12:11

    Montenegro population ~ 650,000
    Serbia excluding Kosovo ~ 7.5 million

    YM fleet - 8 a/c
    JU fleet - 14 a/c at best

    Montenegro Airlines has proven at being able to enter markets and develop new route structures while expanding their fleet.

    Jat on the other hand has been left to rot, and rot they shall.

    Jat as an airline is a disgrace to the Serbian nation and a disgrace to the former Jat of the 1980s.

    They are in a battle of attrition.

  7. b-73712:32

    The only strategic reason for some well-known European carrier to buy Montenegro Airlines is to close it, and than to protect that market from point-to-point destination, like in Bulgaria and some others countries. Because, let's be objective, what is potential of Montenegro market??

  8. Anonymous12:49

    Some ridiculous thoughts expressed here. Montenegro certainly needs its own national carrier. Up to this point, MGX fleet has been revitalized, it doesn’t make profit nevertheless loss is quite negligible (less than a million). Moreover, this public tender encompasses a possibility of public-private partnership arrangement with Airports of Montenegro. This can be understood as a preparation for El-Al takeover. Meanwhile, with JAT's accumulated debt/loss you can buy several brand new planes. It seems to me that JAT I hopeless here

  9. I think the only thing we dont need in the ex-yu region are stupid comments like that from BEGLAX!Evrything else is perfect!
    Get real, beat your jealousy!!
    When Serbia gets so many traffic like it has citizens, you shoul call me.
    The end effect-Montenegro has probably one of the biggest and most developed aviation markets in South-east Eurpope proportional to its size.They have launched new planes, new destinations, new airport was bulit, actually what JAT has not done in 20 years-YM has done in 2!!
    3.By the way no sarma-style cabin crew with lipstick on teeth!!

  10. SerbianSausage19:30

    First of all, no one can compare JAT to any other airline in the Balkans because when countries broke away from Yugoslavia and started their own airline companies (like Montenegro Airlines) the companies had a debt of $0. JAT today carries all the debt JAT in the 1980's had. So with all that debt and its current performance, JAT is doing amazing.

    Secondly, Montenegro Airlines is not doing well. That is why they begged JAT to save them (which JAT unfortunately did) and JAT created the "merger" between the two. JAT was beating Montenegro on its own territory and Russians traveling to Montenegro were sing Russian companies, not MA. So Montenegro Airlines is really just a piece of shit that is trying to stay alive, and its fleet expansion was profitable at a time, but now that it continued, it is hurting the company.

    My guess is that Turkish Airlines will buy it due to the fact that Turkish has like a 50% stake in B&H Airlines, and will buy JAT, and it has shown interest in purchasing other ex-Yu airlines.

  11. Anonymous19:39

    @ IN007
    Do you have an info on pax number in air-traffic in China?

    Try to learn to hear other people thaughts. BEGLAX did not insult anybody.

    Just for instance: maybe you noticed how many Jat`s funs are coming here. And maybe you noticed how many bad, but really bad words are addressed to Jat. But, I cannot remember of anybody reacting in your style.

    Your latest comment may still stay nice, but without introductory of that kind, cause your introductory is your own mirror.
    To be sure, read your latest comment once again.

  12. The main problem you think that if You are fan of Jat can write somethin like:
    Let YM go bankrupt, no need for them....just because you cannot put up with its presence on the market.
    Other thing, I am talking about facts like pax numbers, fleet of YM.
    You are saying something about the financial situation-Damn You are better than the profis and analysts of the Brasilian Investment Bank that approved the loan of YM!!
    About China it had about 486.063 million passengers, still far away from 1.330.000.000 citizens:-)
    With my last comment I wanted to point out that is not good insulting other carriers and understimating it.
    You probably felt that on your skin now.

  13. JU520 BEGLAX22:02


    One thing I def like about YM is their livery painting. The Embraers are looking very nicely and for sure better than some of the other Ex Yu Airline logos..
    So if they would be gone, it would be a pity.
    Who is going to survive of all the Ex Yu I really don t know. Croatia and Serbia for sure will need their carriers. If JP could coop with OU, I don t know, I would welcome it, but don t know if the Croats are really in a mood to do so. If Serbia has their own Carrier, don t know if it still needs YM. The Ex Yu market is an interesting and promising one, how many airline will be able to share it, difficult to say. 2,3,4? but for sure not more..
    let s wait and see... :-)

  14. frequentflyer00:06

    My guess is an offer from SU. Russian investment and tourism in Montenegro is incredible, and to be have airline operations to this particular part of the world run by a dedicated operator would be highly appealing and cost effective. YM in return is guaranteed better stability than poor MA got with their Russian ownership...

    If it happened, wouldn't be surprised to see the fleet (the F100s anyway) replaced by Sukhois - purchasing of these planes is political as well as operational.

    EK won't go anywhere near the airline - they're too busy with their own growth strategy out of DXB and running their enormous fleet to every corner of the earth - a small operations on the edge of Southern Europe isn't going to make much sense to them.

    Ironically, YM has the right fleet for JU: modern ~100 seater jets. But JU520 BEGLAX makes a good point: we won't see a merger between the two as both seem likely to collapse under their own weight at present, and merging two sinking ships doesn't suddenly make them float.

  15. SerbianSausage00:07


    Interesting analysis. I not sure I agree with you but I am open to the question of who can survive in the increasingly competitive Ex-Yu market. B&H couldn't and that is why only half is bought by Turkish and it still is struggling...because no one really wants to visit Bosnia (if you look at outside the Balkans). Those that attract tourists from outside the region will be winning the market. Croatia is currently in the lead and has been since it attracted 10 million tourists last year. Second is Serbia which attracted over 2 million. Montenegro is rising fast, but the problem is that there is nothing else Montenegro can offer but its coast. So in the summer it gains, but when the season is over, it struggles. So Montenegro really needs its airports to be in check. As for the airline, we can go without it. I'm sure it's no problem if other carriers fly seasonal routes to Montenegro. Macedonia has the worst tourists industry and that is why its airline failed (no offense to any Macedonians). And Slovenia is becoming a Balkan business hub so while it has no tourist industry, it's still attracting money. I think that if JAT-Adria-Croatia merger was created, that company would be the biggest and most profitable one in the Ex-Yu region.

  16. PleaseStopThinking02:08


    "I think that if JAT-Adria-Croatia merger was created, that company would be the biggest and most profitable one in the Ex-Yu region."

    No sh1t! If you really need to think to come to such 'drastic' conclusions I feel sorry for you.

    Dude, the less you talk (and write) the better for you. Your multidimensional ignorance is astounding. For your own good, don't open your mouth for a month and certainly keep away from a keyboard.

    @Other haters
    One ugly Balkans word describes your feeling: inat.

  17. I completely agree with PleaseStopThinking..Your comment made me laughing..Hahahhaa
    And a question to the Sausage:
    Is it true that Serbia is becoming very popular among gay population?I have heard that is going to be something like Winter Mykonos?!
    And Italians will come for sure to see football matches.Hahahahahah..

  18. Anonymous05:50

    @ PleaseStopThinking, the best comment i have heard for a while. A lot of people have inat here, a shame as we should be working together to develop the region and see what we love most, new aircraft taking to the skies in our backyards.

    And SerbianSausage, your analysis has no grounds, you talk about Montenegro struggling during the winter, but don't all tourist destinations have a down season at some point in the year. How developed is Serbia's tourist industry, apart from people with Serbian heritage, how many people visit Serbia out of their own accord? During the winter, is Serbia popular for foreigners?

    Montenegro does not just rely on the coast, the national parks of the nation are unbelievable, go to Cetinje, Durmitor or Zabljak and you will see unrivaled beauty.

    Macedonia's national airline did not cease to exist because the tourist industry is not as developed, it had terrible directors, a trait which seems to be in most airlines of the region.

    If it wasn't for the Serbian Government Jat would not be in existence today. Even if they started debt free, with their current business strategy and especially their strategy implemented throughout this decade, they would be a thing of the past.

    By the way i still don't think the directors even knew what a business strategy was until a few years ago.

    Lets hope Montenegro Airlines is granted an Air Operators Certificate in Serbia, then things will become interesting.

  19. Anonymous07:56 many comments for such boring news.
    Anyway, first of all I am a Serb and I can say that Serbia sees a lot of tourists in summer. Let's not forget the tens of thousands of Brits that come to Belgrade for Exit. There are always a lot of foreigners coming for Guca and the beer festival in Belgrade.
    Belgrade is also developping something no other Ex-YU country is doing, developping the student tourism by having the biggest Model UN conference out of all of the countries there. This year there are over 50 new foreigners that will come. One of the main foreigners is actually gay IN007.
    So to say that Serbia does not see any tourists is just plain stupid. I do not care who said what about whom, I just wanted to clarify some facts about Serbia.

    As far as this airline goes, no one will be interested in buying them simply because there are far better markets and far more interesting airlines around. I do not see why an airline would buy YM when there in OU or JU just there.

    Additionally all those who praise YM because it is what it is, I have to agree with someone who said that JU had to inherit all the debt from Yugoslav Airline. So please chillout and take a breath and come visit the most beautiful and alive city in the Balkans, Belgrade :*

  20. Doot14:15

    50 new tourists this year?



Post a Comment

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. A full list of comment guidelines can be found here. Thank you for your cooperation.