Montenegro Airlines aid under review

NEWS FLASH


The Montenegrin competition watchdog is studying the legality of a state aid law “for the investment and consolidation of the national carrier” which foresees the allocation of 155 million euros to Montenegro Airlines over a six-year period. The legislation was passed late last year and foresees a wide-ranging restructuring of the carrier in return for funds. “The proper resolution to this case involving Montenegro Airlines is an important test for the functioning of the Montenegrin state aid control system and further progress in the [EU] negotiations on chapter eight – competition”, the Montenegrin Competition Agency noted. The President of Montenegro Airlines’ Board of Directors, Nikola Vukićević, has said the implementation of the law has been postponed due to the coronavirus Covid-19 pandemic. Montenegro Airlines registered a net loss of almost eight million euros in 2019, while its debt stood at 97.7 million euros. The carrier has been grounded since March 16 due to Covid-19. During this period, employee wages have been reduced by 30%.

Comments

  1. Anonymous13:44

    How is that possible? Aren't they a government institution?

    ReplyDelete
    Replies
    1. Anonymous13:45

      Yes and they will approve. It's all for show.

      Delete
    2. Anonymous13:49

      "cisto ko suza"

      Delete
    3. Anonymous13:56

      Lol ok then. Hilarious.

      Delete
  2. Anonymous11:45

    Either that, or they're planning on letting YM go bust in which this would constitute an 'excuse'

    ReplyDelete

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