The Montenegrin government has adopted a decision to establish a new national airline, ToMontenegro, after it grounded the air fleet of Montenegro Airlines due to debt and unwillingness to further subsidize its operation.
According to a Jan. 15 press release, the cabinet adopted a statute for the new airline and gave it starting capital of four million euros.
The Podgorica daily Vijesti reported that the process of founding the new airline could be completed by the end of February and that the first flights could be expected within six to nine months.
The cabinet said in an earlier press release that there was no legal basis for it to further subsidize Montenegro Airlines, and grounded its planes on Dec. 25, 2020. Previously, the Competition Protection Agency banned further state assistance to Montenegro Airlines.
According to the reporting of the Podgorica daily, the government intends to keep Montenegro Airlines afloat in the meantime and launch a minimum of flights so the airline does not lose its licenses.
This task, together with taking care of the airline's assets and employees, will be entrusted to a new board of directors, to be voted in at a Feb. 8 shareholders' assembly.