newstodate.aero
Sep 09, 2009 (newstodate): Montenegro Airlines has found that airline privatization tenders are not too attractive during the current times of crisis.
The government of Montenegro has been preparing for a sale of its 99 percent of the shares in the airline at least since 2007, and a formal tender was announced this year.
Sources now say that El Al that had aired its interest in taking over the carrier has now withdrawn its participation, and the government is expected to revise the terms of the tender to find new potential bidders.
The carrier currently operates a fleet comprising five Fokker F100 and two Embraer 175, with delivery of a further two Embraer aircraft over the next two years, but it will need fresh capital to build up its fleet and route network.
The government of Montenegro has been preparing for a sale of its 99 percent of the shares in the airline at least since 2007, and a formal tender was announced this year.
Sources now say that El Al that had aired its interest in taking over the carrier has now withdrawn its participation, and the government is expected to revise the terms of the tender to find new potential bidders.
The carrier currently operates a fleet comprising five Fokker F100 and two Embraer 175, with delivery of a further two Embraer aircraft over the next two years, but it will need fresh capital to build up its fleet and route network.