The Government of Montenegro has decided to purchase two Embraer 195 aircraft for the needs of the new airline ToMontenegro, which will cost the state $21.78 million.
Thus, according to the Montenegrin Ministry of Finance, this will save $43 million.
Given that the government is the founder and owner of Montenegro Airlines, the entire burden of early contract termination should be paid from the state budget.
“Today, tremendous progress has been achieved. Instead of the state paying more than $43 million due to the termination of the existing lease agreement for two aircraft between Montenegro Airlines and GECAS, while losing all rights to the disposal of these aircraft, today we bought them for just over $21 million. This means that as of today they are in permanent state ownership. By acquiring these two aircraft, we are one step closer to achieving our goal of getting ToMontenegro up and running and resuming flights by June 1 this year,” said Finance and Social Welfare Minister Milojko Spajić.