Source: eKapija | Tuesday, 10.12.2019.| 11:24
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Montenegrin government proposes recapitalization of Montenegro Airlines by investing EUR 155 million over six years

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The Government of Montenegro has passed the Draft Law on investing in consolidation and development of the Podgorica-based air transport company "Montenegro Airlines", which creates basic preconditions for market operations of the Montenegrin national air carrier and therefore the numerous positive effects on our entire economy.

The proposed Law that the Cabinet submitted to the parliamentary procedure trough a shorted procedure, foresees recapitalization of the national airline by investing EUR 155 million over the next six years, in order to cover the Montenegro Airlines due liabilities to creditors and investment in development. This amount also includes the allocation of up to EUR 50 million net for the purchase of new Montenegrin crafts.

– In order to provide liquidity, sustainability and stability of the national air carrier business as a company of special significance to the State, this Law regulates conditions, manner and the procedure of obligations settlement that Montenegro Airlines has towards the state of Montenegro and third parties, source and method of providing funds for these purposes and other issues of significance for the development of the national airline, which business effects the economic development on the economic development of Montenegro as a whole – the press release says.
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