MIAMI – The Government of Montenegro has today ordered the closure of the indebted flag carrier Montenegro Airlines (YM), promising by the end of 2021 to form a new company. YM will cease operations “within a day or two.”
According to balkaninsight.com, the move comes despite opposition warnings of the economic ramifications, but the government cites debts run up under previous governments as the cause of the decision.
Mladen Bojanic, Minister of Capital Investments, stated that it would cost €50m to close the flag carrier and take up to nine months to build a new one. Bojanic said in a news read more ⇒