Montenegro Airlines gets €10.4 million cash injection
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The Montenegrin government has injected 10.4 million euros into its national carrier on July 21 to secure the company’s liquidity. Montenegro Airlines has been hit by the coronavirus pandemic with its revenue declining 15.1 million euros during the first half of the year. The carrier has also been banned from operating to its most lucrative destination - Belgrade - although there are growing indications flights to the Serbian capital may resume in September. Montenegro Airlines’ CEO, Vlastimir Ristić, recently said the company’s finances have been affectedby the ongoing pandemic and noted the government’s decision last year to provide 150 million euros in state aid over a six-year period has been put on hold and is being reviewed by the country’s competition watchdog.
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