Wish list

El Al lays down the terms

El Al Israel Airlines has sent a written letter to the Prime Minister of Montenegro, Milo Djukanović, and once again re-affirmed its intent to purchase Montenegro Airlines. The Israeli national carrier compiled a list of terms under which it would buy the Montenegrin carrier. According to Montenegrin media, along with buying Montenegro Airlines, El Al also wants to gain control over Montenegro’s 2 airports - Podgorica and Tivat and manage both of them for the following 10 years. However, the Montenegrin Government would, within those 10 years, continue to finance both of the airports and continue to allocate funds for their development. According to the Montenegrin daily “Vijesti”, the Israeli carrier also wants to be allocated land on which it would build its offices because El Al wishes to make Montenegro its Balkan base.

One of the most explicit demands that El Al has made on its wish list is that it wants the Montenegrin Government to continue funding Montenegro Airlines’ fleet renewal. El Al is interested in purchasing 30% of the airline’s shares, together with the European Bank for Reconstruction and Development. Any of Montenegro Airlines’ potential buyers will be given only 1 seat on the airline’s board of directors. The 30% of the airline’s shares are estimated to amount to 15 million Euros. Montenegro Airlines would invest the money in its fleet.

El Al Israel Airlines is the national carrier of Israel. It operates to approximately 40 destinations with a fleet of 37 aircraft. Israeli companies have recently begun investing large sums of money in various projects across Montenegro.