Montenegrin Airlines killed to launch new one

0
15


In the newly elected government, the Montenegrin Capital Investment Minister announced on Christmas Eve that the government would no longer provide domestic assistance to domestic airline Montenegro.

The decision is in line with the death penalty for the airline. This is due in part to the company’s “Montenegro Aviation” investment and integration law for the airline transport of passengers and cargo, as it has the only chance of survival.

According to a report by Serb-based BDK Media, on September 3, 2000, the Montenegrin Agency for Competitive Prevention decided to launch a formal investigation procedure on compliance with the state aid regulations of state aid with the permission of Lex MA.

In lawsuits leading to the decision, the government sought to prove that the measures set out below the Lex MA were in line with the’s ၅ 155.1 million market investor principle. State assistance. The government supported the economic analysis prepared by Deloitte, and Lex MA proposed to pass the MEO exam. The agency found a number of weaknesses in the analysis and did not conclude that state assistance under Lex MA was compliant with the MEOP. He called on the government to submit a formal application for state aid. The decision on whether to comply with the Lex MA and state aid regulations is pending. The agency also ordered the government to suspend aid based on the Lex MA. At that time, 43 million of the total ၁၅ 155.1 million was transferred to the airline. Meanwhile, the European Commission has ordered Ryan Air On December 4, Montenegro Airlines intervened after receiving a complaint that it had received more than သန်း 43 million in state aid this year.

What will happen?

The agency must end these actions on December 3, 2019, as a formal investigation into compliance with Lex MA’s state aid regulations has been completed. It is difficult to see the aftermath of the current lawsuit, but Lex MA is inconsistent with government funding. This means that the agency must order the Ministry of Capital Investment, which transports capital, to recover the amount of aid transferred to Montenegro Airlines. The deadline to comply with the rehabilitation order is four months. The Ministry of Capital Investment is responsible for ordering the restoration of Montenegro Airlines within two months of the agency’s decision, along with a recovery plan and schedule. The ministry’s rehabilitation order is a confirmation topic. Montenegro Airlines launches non-profit operations If Montenegro Airlines does not issue a restoration order within two months of the agency’s restraining order, the agency may file a statistical lawsuit before the Administrative Court.

The company will not be able to operate for long without state assistance. The planes are expected to be based in a few weeks. By law, any non-binding petition against Montenegro Airlines can be filed by any of Montenegro Airlines’ creditors.

The government has announced that it will set up a new state-owned airline in the coming months with an investment of around သန်း 30 million. The airline is expected to launch in the summer of 2022. Not only will it take time to build a new airline, it will also lose the placement of existing Montenegrin airlines and could be disrupted by the new airline. Conclude new international agreements and obtain necessary permits. Montenegro Airlines, which handles more than 50 percent of tourists, could adversely affect the 2021 summer season. Due to COVID-19 restrictions, tourism in Montenegro is expected to increase by 2020. Between January and September, revenue fell by 90 percent. Private airlines are expected to take over some lucrative routes. Will the government be the sole shareholder of the new company? It remains to be seen whether the joint venture will be sought.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here