The Montenegrin Government said on Thursday it was shutting down the 'Montenegro Airlines' company, landing all planes and founding a new company, adding it had no legal basis to extend the company's existence Podgorica Vijest daily reported.
„We cannot make any legal decision to help Montenegro Airlines,“ Minister of Capital Investments Mladen Bojanic said.
He added the plan was to form a new company with the founding capital of the Government.
A new company will be operational until the next tourist season, Bojanic said.
He estimated the budget cost due to the shutdown would amount to 50 million Euro, and that the employees would receive everything that legally belonged to them.
Later on Thursday, Montenegro’s President Milo Djukanovic, said the decision was reckless.
„Shutting down a business is easy and fast, even for a national airline, but it can also be very risky and reckless, especially in a country that generates a quarter of its GDP in tourism, and which has not used even 50 percent of its potential in that activity, Djukanovic, whose party is in the opposition in the country, tweeted.