Montenegro Airlines privatisation

New privatisation model for Montenegro Airlines

Talk of Montenegro Airlines’ privatisation is once again on the agenda after several months. The Government of Montenegro has decided to change its privatisation strategy for the national carrier. It will offer 30% of the airline’s shares with the possibility of the buyer increasing their ownership to 51% after two years. Although Israel’s El-Al was one of the most interested buyers, along with the European Bank for Reconstruction and Development, it is believed that the small number of shares offered was a strong deterrent for both companies. Furthermore, El-Al was requesting ownership over “Airports of Montenegro”, the Government run operator of Podgorica and Tivat airports. The Montenegrin privatisation agency states that other companies are also interested in purchasing Montenegro Airlines, including companies from Russia and Germany, the “MINA” news agency reports.

Meanwhile, Podgorica Airport was closed for traffic yesterday from 10.00 due to engine problems on an Ilyushin cargo aircraft. It has been reported that parts of the engine scattered across the runway upon landing. The airport was reopened for traffic at 12.30.