30% share of Montenegro Airlines on offer
The Montenegrin Government has announced the sale of a 30% stake in Montenegro Airlines. On Monday, the Government said that the nominal total value of the Montenegrin carrier amounts to 25.7 million Euros. All interested parties can send in their bids until December 15, 2010. Those interested must have had at least 5 years of experience in the aviation industry, a fleet of 10 aircraft and must have carried at least 2 million passengers in 2009. Such conditions immediately oust not only investment banks from purchasing the airline but also other airlines in the region such as Adria, Croatia Airlines or Jat. The Montenegrin Government has not set a starting price for the offered package of shares.
Last year, when there was talk of Montenegro’s sale, El-Al Israel Airlines expressed the most interest carrier. However, the Israeli national airline also requested the ownership of Podgorica and Tivat airports as part of the purchase, which was unacceptable for the Montenegrin Government at the time.
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