Montenegro Airlines to lose land and facilities

#MontenegroAirlines #Kredit #Hipoteka

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Due to an activated mortgage for credit with First Bank, national air traffic company Montenegro Airlines will soon lose its business building located in Beogradska street, in so called diplomats neighbourhood Gorica C, Weekend Edition of Dnevne Novine Daily learns from sources close to the company.

There were predictions that the leadership of the company wanted to sell this building on July 27th when, after two decades, they moved to Boulevard of Sveti Petar 130, Weekend Edition of Dnevne Novine daily writes.

They learned that the mortgage activation has a collateral of business building of 265 square meters and land of 502 square meters, based on many credits that the national company took with First Bank. Hotel Ziya is the most likely buyer of this land. According to unofficial information, Hotel Ziya, owned by businessman Veselin Pejović, is ready to pay 1,9 million EUR for this land.

Montenegro Airlines capital on December 31st of 2012 was 8,67 million EUR, while in the end of December of last year it was -26,29 million EUR. This data is available on the website of state committee for stocks and bonds and is a part of passed official financial reports overseen by Parliament of Montenegro and Government of Montenegro, that owns 99.86% of this company.

Weekend Edition of Dnevne Novine daily could not get the information whether the mortgage has already been activated.

During the last year, Montenegro Airlines was in deficit of 10,4 million EUR, while in the end of 2015 the deficit was 60,4 million EUR. Revision company MV Consult gave their expert analysis to the company, saying that there were no properly accounted estimates of real estate and equipment, or MRS 19 reimbursements to the employes. MV Consult pointed to the fact that Montenegro Airlines has more deficit than capital.

Source: Cafe Del Montenegro