Montenegro’s airports to register €11 million loss

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Wizz Air to set up Maltese airline

Wizz Air is planning to create a new subsidiary based in Malta to allow the budget carrier to continue expanding around Europe. The Hungary-based carrier is already the fastest growing airline in Europe and now intends to set up Wizz Air Malta, which could begin flights in October 2022 using Malta-registered aircraft. The airline said it would apply for an Air Operator’s Certificate (AOC) for the new subsidiary. Wizz Air’s CEO, Jozsef Varadi, said, “We are pleased to announce our intention to establish a new airline subsidiary in Malta. Wizz Air is constantly evaluating the structure of its business and exploring options to establish new AOCs and bases in Europe and beyond”. He added, he successful establishment of Wizz Air Malta later this year will help to reinforce our strong position and support our expansion plans in Europe. We look forward to working with EASA (European Union Aviation Safety Agency) and the Maltese CAA to take this application forward”. European airlines can now set up multiple AOCs across the continent with the arrangements being overseen by EASA. Patrick Ky, Executive Director of EASA, noted, “This new set-up, where one group will operate multiple AOCs based in different member states, but overseen by the same competent authority, demonstrates the possibilities available through the transfer of responsibilities to EASA”. Malta’s Minister for Transport, Aaron Farrugia, said, “This airline will register a substantial number of aircraft in our country, further increasing the number of our already strong 9H fleet. In fact, it is expected to have a significant impact on our economy and generate further jobs. It will also lead to further opportunities and initiatives”.

Montenegro’s airports to register €11 million loss

NEWS FLASH

The state-owned operator Airports of Montenegro, which runs the country’s two international airports in Podgorica and Tivat, is expected to post a loss of at least eleven million euros for 2020, despite five million euros made in savings. The result is in stark contrast to the fifteen million euro profit before tax recorded in 2019. The operator has been hard hit by the coronavirus pandemic, which forced the closure of Podgorica and Tivat airports for three months, as well as the collapse of its main customer Montenegro Airlines in December of last year. The newly elected Montenegrin government has said it intends to carry through with the stalled concession process of the airports and award a contract to a foreign operator.

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Anonymous12:14
Not surprised. Corona, stubborn travel ban to two of your biggest markets, collapse of MGX. It adds up.
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Montenegro’s airports to register €11 million loss

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