Montenegro Airlines has a debt of €37.2 million, but they are not considering bankruptcy.
Executive director Zivko Banjevic said that it is necessary to implement a business model that would revitalize the company and make it self-sustainable.
He said that the summer season was successful. The company is implementing activities in order to lower its debts and better its financial results.
“We are working on preparing a business plan for the next year, and the next three, five and ten years. We have a long term business and commercial strategy defined as well”, Banjevic said.
Banjevic said that there are currently 394 employees in MA, and that a need has been recognized to lower that number.
In the first 8 months of this year, MA transported 340 thousand passengers and had 4 thousand flights.
