The Montenegrin government has blocked a decision to grant the debt-ridden Montenegro Airlines a further 500.000 euros. The Ministry of Finance says it came to the decision after the State Aid Control Authority concluded that the payment would constitute as illegal state aid, following three years of restructuring at the company. The European Commission has previously said it was monitoring state aid grants to the carrier. Last week, Montenegro Airlines payed its staff two late monthly wages in order to avoid a planned strike by its pilots. It is believed the carrier took out a loan in order to make the payment. Montenegro Airlines' debt currently stands at over seventy million euros.
The beginning of the end.
ReplyDeleteTick tock tick tock tick tock...
ReplyDeleteThere is some sort of perverse satisfaction hearing of the imminent demise of Montenegro Airlines. Feel sorry for the honest people working there, but corruption and nepotism will eventually kill the airline.
ReplyDeleteIt was bound to happen sooner or later, but I'm sure this is the worst possible timing. I returned from TIV just a day ago, the new tower looks great and is mostly finished from outside, while EasyJet flights are fully packed. Due to these flights I've seen a ton of English tourists suddenly discovering Montenegro and I think the arrival of Ryanair and EasyJet is one of the reasons MGX can be put to rest.
ReplyDelete70 million for such a small airline... WOW.
ReplyDeleteThis is political movement since that new minister of finance is actually a big rival of minister of transport, who once was in his party. No one thinks about benefit of people in this country. Just political games.
ReplyDeleteSounds like everywhere...
Delete