First time: Without government’s assistance Montenegro Airlines paying for Embraer

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Montenegro Airlines today, after the program of government’s assistance from last year ended, paid from its own resources an installment for this year’s financial leasing for the airplane Embraer 195 to Brasilian bank BNDES.

Public company Montenegro Airlines bought the Embraer 195 in 2010 via financial leasing with BNDES bank, with payment term of 12 years with 24 equal installments, starting from 2011.

Based on the program of government’s assistance from June of 2012, the installments in 2013, 2014 and 2015 were paid by the Government.

As it was stated from the company, in previous three years long term obligations of the company were reduced by 20 million euros, which was earlier stated at the session fo the Board of directors on 18th of July.

As they added, they are having very good business results at the moment.

Namely, Montenegro Airlines transported 309.696 passengers by the 28th if July, which is 1.6 percent more compared to the same period of last year; and in regular transport Montenegro Airlines had five percent more passengers than in the same period of last year.

Source: Cafe Del Montenegro