Montenegro Airlines Collapses After Sustaining Chronic Financial Losses

Montenegro Airlines Collapses After Sustaining Chronic Financial Losses.

Montenegro’s national airline has gone out of business after sustaining a long period of financial losses with 360 staff losing their jobs. The final flight was YM103, and took off from Belgrade in Serbia to its hub, Podgorica, on Christmas Day. On an earlier flight on 25 December between the two capitals, the pilots traced out a partial heart shape with their flight path.

In 2019, the airline flew 657,276 passengers – fewer than Ryanair carried in just two days. Ryanair had complained to the European Union about what it said was illegal state aid to the Montenegrin carrier.

Montenegro Airlines was created in 1994, towards the end of the Yugoslav civil war. It has been financially supported by the government of the former Yugoslav republic for most of its existence. The carriers fleet comprised just four commuter jets: three Embraer 195s and a single Fokker 100 – which was 31 years old.
The aviation sector worldwide is going through turbulent times, industry insiders are worried this is just the start of the closures.

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Written by

Tony Winterburn

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