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.
Not surprised. Corona, stubborn travel ban to two of your biggest markets, collapse of MGX. It adds up.
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