||SERBIA AND MONTENEGRO
||+382 81 405 501
||+382 81 405 548
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MNO-LOGO - 2014-08
FORMED IN 1994 AND STARTED OPERATIONS IN 1997. DOMESTIC, REGIONAL, & INTERNATIONAL, SCHEDULED & CHARTER, PASSENGER AND CARGO, JET AIRPLANE SERVICES.
UI. BEOGRADSKA 10
81000 PODGORICA, SERBIA & MONTENEGRO
SERBIA & MONTENEGRO WAS ESTABLISHED IN 1918, COVERS AN AREA OF 102,173 SQ KM, IT HAS A POPULATION OF 10.5 MILLION, ITS CAPITAL CITY IS BELGRADE, AND ITS OFFICIAL LANGUAGE IS SERBIAN. THE FEDERATION CONSISTS OF THE TWO FEDERAL UNITS SERBIA AND MONTENEGRO. SERBIA INCLUDES THE AUTONOMOUS PROVINCES OF KOSOVO & METOHIJA AND OF VOJVODINA (INCLUDED IN THE TOTAL FIGURES).
APRIL 1999: THE GOVERNMENT OF MONTENEGRO OWNS 99.2% OF MONTENEGRO AIRLINES (MNO).
THE USA (FAA) SAFETY OVERSIGHT RATES THIS REGION AS CATEGORY 3.
104 EMPLOYEES (INCLUDING 14 FLIGHT CREW (FC), 26 CABIN ATTENDANTS (CA), & 7 MAINTENANCE TECHNICIANS (MT)).
1 767-300ER, AIR EUROPE ITALY (EIY) WET-LEASED FOR TIVAT, MONTENEGRO TO NEW YORK (JFK).
MAY 1999: 2 F28-4000'S (11176, YU-AOI; 11184, YU-AOH) STORED AT ATHENS.
NOVEMBER 1999: MOVED ITS HQ BACK FROM TIVAT TO PODGORICA - GOLUBOVCI, FOLLOWING AIRPORT REPAIRS.
PLANS TO ACQUIRE 2 USED 737'S TO REPLACE 2 F28'S.
APRIL 2000: UNITED NATIONS (UN) EMBARGO PREVENTS SOME OPERATIONS. TO FRANKFURT (3/WEEK).
JULY 2000: 1 F 100, EX-(KLM), FROM TRANSASIA (FSH), AND TRADED IN 2 F28-4000'S (11176, YU-AOI; 11184, YU-AOH) IN PART-PAYMENT.
AUGUST 2000: CONSIDERING SERVICE TO AMSTERDAM, LONDON, MILAN, & MOSCOW.
1 LET 410UVP-E (902422), PELICAN BLUE LEASED.
NOVEMBER 2000: 2ND F 100 (11268), EX-TREANSASIA (FSH)/(KLM). F28-4000 (11184) TO TRANSASIA (FSH).
APRIL 2001: 120 EMPLOYEES. (email@example.com).
(http://www.montenegro-airlines.com). SITA: TGDOW1I.
MAY 2001: 2ND F 100 (11268, YU-AOL), EX-KLM UK (AUK), TRANSASIA (FRS) LEASED.
SEPTEMBER 2001: 120 EMPLOYEES.
July 2002: 1 F 100 (11321, YU-AOM), Debis Finance (DEA) 39 month leased.
August 2002: Podgorica - Tel Aviv (F 100, weekly).
January 2003: Podgorica - Paris (F 100, 2/week).
April 2003: 200 employees.
November 2003: In April 2004, Podgorica - Paris.
March 2004: Aigle Azur (AZU) received most (a total of 1,460/year) of the Paris Orly (ORY) slots previously held by defunct Air Littoral, worth 2 flights/day. COHOR also distributed former Air Littoral slots to Air Nostrum (104), Egyptair (EGP) (104), Montenegro Airlines (MNO) (936), Pulkovo Airlines (STG) (624), Sky Europe (SKP) (624), Turkish (THY) (434), and Tunisair (TUN).
April 2004: In July 2004, Belgrade - Paris Orly (ORY) (F 100, daily).
May 2004: In June 2004, Nis - Zurich (2/week).
July 2004: 2003 = 157 million (RPK) (traffic) (+50.5%); 54.5% LF (load factor); 287,000 passengers (PAX) (+44.8%); 43,000 (FTK) (freight traffic) (+33.5%).
November 2004: F 100 (11272, YU-AOK) wet-leased to Albatros Airways.
June 2006: 286 employees.
December 2006: F 100 (11268, YU-AOL). wet-leased to Belle Air (BEL).
June 2007: Starts Podgorica - Vienna, Tivat - Frankfurt, using F 100s.
August 2007: Montenegro Airlines (MNO) signed an agreement to lease 2 Embraer E195s from (GECAS) (GEF). Deliveries are scheduled for May 2008 and May 2009. Airplanes will be configured with 116 seats in 2 classes (the 1st business class (C) - equipped E195s in Europe) and used on routes to Russia, the UK and Scandinavia, Embraer said.
September 2007: Montenegro Transport Minister Andrija Lompar said the nation plans to sell stakes in state-owned Montenegro Airlines (MNO) next year, with the European Bank for Reconstruction & Development, and airlines, plus private consortiums as all potential buyers, "Reuters" reported. "Capital increase is the privatization model, that will make it possible to restructure the (MNO) fleet by buying new Embraer E195 airplanes, so we can open new [routes]," he said. (MNO) currently operates a fleet of 4 F 100s.
April 2008: Montenegro Airlines (MNO) launched weekly, Tivat - Moscow Domodedovo aboard an F 100. The route becomes 2x-weekly on June 3 and eventually will be operated 4x-weekly.
When (MNO) receives its 1st Embraer E195 in June 2008, and it will launch 2x-weekly, Tivat - London Gatwick.
May 2008: As the government airline, Montenegro Airlines (MNO) provides scheduled flights to Budapest, Frankfurt, Ljubljana, Paris, Rome, Skopje, Vienna, and Zurich, in addition to charter flights throughout Europe and the Middle East.
Employees = 367.
(IATA) Code: YM - 409. (ICAO) Code: MGX (Callsign - MONTENEGRO).
Parent organization/shareholders: Montenegro government (99%).
Alliances: Adria Airways (ADR).
Main Base: Podgorica Airport (TGD).
June 2008: E195 (0180, 4O-AOA), delivery.
September 2008: Montenegro Airlines (MNO) placed an order with Embraer for 1 E195 with purchase rights for 2 more. The deal is valued at $39.5 million, which could increase to $118.5 million, if both purchase rights are exercised.
December 2008: World nations currently rated Category 2 by the USA (FAA) under the agency's International Aviation Safety Assessment (IASA) program are: Bangladesh, Belize, Ivory Coast, Croatia, Democratic Republic of Congo, Gambia, Ghana, Guyana, Haiti, Honduras, Indonesia, Israel, Kiribati, Montenegro, Nauru, Nicaragua, Paraguay, Philippines, Serbia, Swaziland, Ukraine, Uruguay and Zimbabwe. The (FAA) rating prevents nation's airlines being allowed to fly into the USA. They have the option to fly to the USA with an airline who is approved under Category 1.
The (FAA) states that a Category 2 rating "may involve a country lacking laws or regulations necessary to oversee air carriers in accordance with international standards, or that its civil aviation authority does not meet international standards in 1 or more areas such as technical expertise, trained personnel, record keeping, or inspection procedures."
April 2009: El Al (ELA) is negotiating with the Montenegrin government for the purchase of 30% of Montenegro Airlines (MNO), which operates 1 E195 and 5 F 100s and needs cash for fleet renewal. El Al (ELA) President, Haim Romano told reporters in Podgorica that talks will continue, while (MNO) Chairman Zoran Djurisic said discussions also were taking place with Adria Airways (ADR) and that the sale is expected to be finalized before year end, "Reuters" reported. According to Vijesti, (ELA) is the most interested party and the government eventually intends to sell a majority of (MNO) to whomever acquires the initial 30% stake. Djurisic told the paper that (MNO) suffered a -€701,000/-$923,925 operating loss in 2008 despite a +33% year-over-year increase in revenue to €61 million. Passenger numbers eclipsed 500,000. (ELA) also reportedly is interested in investing in airports operator Airports of Montenegro.
May 2009: E195 (0283, 4O-AOB), delivery.
January 2010: The Association of European Airlines (AEA) admitted airBaltic (BAU), Aegean Airlines (CRM) and Montenegro Airlines (MNO) as members. It now comprises 36 carriers. The (AEA) also announced that British Airways (BAB) (CEO0 Willie Walsh will serve as the organization's Chairman in 2010, succeeding Croatia Airlines (CRH) President & (CEO) Ivan Misetic.
August 2010: Montenegro Airlines (MNO) has launched new routes from its Podgorica base:
Podgorica - Copenhagen Kastrup: 3x-weekly Fokker F 100 service started on May 1 (replacing route from Tivat operated last summer);
Podgorica - Nis: daily Fokker F 100 service (already launched in February).
(MNO) is no longer operating seasonal services from Tivat to Dusseldorf International, London Gatwick, Skopje, and Zurich this summer season. The only remaining routes from Tivat are Belgrade, Moscow Domodedovo, and Paris (CDG). (MNO) has also given up plans for a new Serbian subsidiary that was to be based in Nis. The government of Montenegro is now planning to sell 30% in (MNO) to a private investor along with the option to increase that 30% stake to 51% after 2 years based on certain conditions. It will give up its Podgorica - Belgrade and Tivat - Belgrade routes by the end of October in favor of a cooperation agreement with (JAT) Airways. The 2 carriers are also exploring cooperation on other routes.
(MNO) has added a 3rd E195.
January 2012: Montenegro Airlines (MNO) has given up its routes from Podgorica to Copenhagen (on September 24) and London Gatwick (on October 28). The privatization process for (MNO) has failed and the government has now decided not to try and privatize the carrier anymore. It has transferred some of the shares in (MNO) to the airport authority of Montenegro in return for unpaid landing fees and airport taxes.
May 2012: Croatia Airlines (CRH) hosted a 2 day meeting of the region's carriers including Adria Airways (ADR), Jat Airways (JAT) and Montenegro Airlines (MNO) to explore how the loss making carriers could cooperate better. The carriers agreed to regularly meet and to come up with options to better utilize their fleets and to optimize schedules and pricing to allow for better connections between the airlines. Prior to this meeting, the Croatian government had more optimistically called on the carriers to come up with a plan to form a multinational holding company that would take control and centrally manage all of the carriers.
February 2013: Montenegro Airlines ((IATA) Code: YM, based at Podgorica (TGD)) (MNO) has announced the cancellation of its 5 times weekly service from Podgorica (TGD) to Nis Constantine the Great International (INI) from March 30, leaving the Serbian airport without scheduled flights going forward. (MNO) had offered connections via Podgorica to its remaining network with a Fokker F 100 over-nighting in Nis to allow for short connection times in Podgorica.
May 2013: The country’s national carrier, Montenegro Airlines (MNO) currently operates a fleet of 5 Fokker F 100s and 3 Embraer E195s, all of which are equipped with between 100 and 120 seats. An additional Embraer E190 is expected to join the fleet in early 2014. (MNO) saw scheduled passenger numbers grow by +6.9% in 2012 to 546,600. Average load factor for the year was 71% LF. Scheduled destinations served this summer are:
• From Podgorica:
Belgrade, Copenhagen, Frankfurt, Ljubljana, London (LGW), Moscow (DME), Paris (CDG), Rome (FCO), Vienna, Zurich.
• From Tivat:
Belgrade, London (LGW), Moscow (DME), Paris (CDG).
According to (MNO), it carried a total of 601,000 in 2012 (including charter passengers), up +6% on 2011, despite operating -7% fewer flight hours. This indicates that (MNO) was responsible for around 44% of the passengers passing through the country’s airports.
In June, Alitalia (ALI) will launch flights from Rome Fiumicino to Podgorica, operating 3 weekly flights with an E190. Other new scheduled services for this summer include airberlin (BER) launching weekly flights between Munich and Tivat from May 14, and Ural Airlines offering weekly flights from Chelyabinsk to Tivat from May 31. Turkish Airlines (THY) does offer daily flights to its major Istanbul hub from Podgorica. Apart from (ALI)’s imminent service, the only other foreign carrier offering flights to a major hub is Austrian Airlines (AUL), which has daily flights to Vienna, also from Podgorica.
April 2014: Montenegro Airlines (MNO) expanded its seasonal offering with a new route from Podgorica (TGD) to Düsseldorf (DUS) on April 19th. The 1,373 km sector to the capital city of the German state of North Rhine-Westphalia will be served weekly (Saturdays) until September 13th, utilizing (MNO)’s 116Y-seat E195s. However, this service will see a frequency increase to 2x-weekly from June 10th. There is no competition on this airport pair.
May 2014: Montenegro Airlines ((IATA) Code: YM, based at Podgorica) (MNO) has taken delivery of E195 (0665, 40-AOD), following a ferry flight from São José dos Campos to Podgorica, via Natal and Las Palmas on May 17.
On lease from (GE) Capital Aviation Services (GECAS) (GEF), the E195 joins the Montenegrin national carrier's other fleet of 3 E195s and 3 Fokker F 100s serving Belgrade, Copenhagen Kastrup, Dusseldorf, Frankfurt International, Ljubljana, Moscow Domodedovo, Paris (CDG), Rome Fiumicino, Vienna, and Zurich.
August 2014: Montenegro Airlines (MNO)'s financial reports and records under the management of former (CEO) Zoran Djurišic were falsified to show an improving outlook, a forensic audit of (MNO)'s finances has shown.
"EX-YU Aviation News" said the (MV) Konsalt consulting firm uncovered the irregularities, having pored over (MNO)'s accounts for the last several financial years.
Instead of the -EUR20 million/-USD26.61 million loss, as announced by Djurišic last year, the audit showed the airline had in fact produced a net loss of >-EUR70 million/-USD93.78 million.
The report went on to add that (MNO) had falsified its financial reports for "several years," by showing conflicting and inaccurate figures aimed at embellishing its financial performance. As a result, (MNO)'s future prospects now remain in doubt.
“(MNO) cannot cover its losses from its existing revenue. (MRO)’s ability to continue operating, depends on its efforts to restructure its liabilities, and establish a satisfactory level of liquidity. The possibility of improving its financial performance is limited, and almost entirely, dependent on government support and restructuring,” (MV) Konsult's audit report stated.
The incoming management team of Daliborka Pejovic alerted authorities to Djurišic's "creative accounting" procedures, following his departure late last year.
Djurišic, who was at the helm of the company for 19 years, resigned on November 28 of last year after his dismissal from the post of (CEO) in July.
Montenegro Airlines (MNO) currently operates 6 airplanes and serves 11 countries, flying to 13 destinations on 14 routes and 28 daily flights.
September 2014: Montenegro Airlines (MNO) is looking to offer intra-European flights as means of boosting its revenue inflows. Airline (CEO), Daliborka Pejovic told "EX-YU" Aviation News that among the routes being considered are Zagreb to Copenhagen Kastrup. “We have sent a request for the government to approve flights from Podgorica or Tivat to Zagreb and onwards to Copenhagen and Europe," she said. "Since (MNO) has good ties with all carriers in the region, it is possible to make a favorable arrangement with Croatia Airlines (CRH). We expect this will further improve our business.”
As with other ex-Yugoslav national carriers, Podgorica is looking to privatize the airline. Commenting on the process, Pejovic said some interest has been shown, adding that (MNO) has received letters of intent (LOI).
“In this process, it is important for Montenegro Airlines (MNO) to regularly meet its payment obligations to Airports of Montenegro, the Serbia and Montenegro Air Traffic Services Agency, but also to its employees," she said.
In May, Etihad Airways (EHD) expressed interest in boosting its cooperation with the Montenegrin national carrier with some press outlets speculating the Emiratis could be studying a possible stake acquisition.
With a fleet of 1 E190, 3 E195s and 2 Fokker F 100s, Montenegro Airlines (MNO) offers scheduled services to Belgrade, Copenhagen Kastrup, Dusseldorf, Frankfurt International, Ljubljana, London Gatwick, Moscow Domodedovo, Paris (CDG), Rome Fiumicino, Vienna, and Zurich.
February 2015: News Item A-1: Montenegro Airlines (MNO) was included in the 2015 draft privatization plan by the country´s Council for Privatization & Capital Projects. The document was forwarded to the government for consideration and adoption. According to the government statement, preparations for publishing public tenders for (MNO) privatization are under way.
(MNO) performs scheduled flights to Paris, Belgrade, Ljubljana, Frankfurt, Rome, Zurich, Moscow, and Copenhagen as well as charters for several other European destinations. In June 2015, (MNO) plans to establish a Podgorica - Zagreb route. (MNO) operates two Fokker F 100s and 3 Embraer E195s. It also plans to increase its E195s fleet and develop flights from Tivat as well as from Podgorica.
Last year, Etihad Airways (EHD) purchased a 49% equity partnership with Air Serbia (JAT), formerly (JAT) Airways, in neighboring Serbia.
News Item A-2: Montenegro Airlines ((IATA) Code: YM, based at Podgorica) (MNO) is to sign a strategic cooperation agreement with Etihad Airways (EHD) in June this year, (CEO) Daliborka Pejovic has said. The announcement comes a week after Serbia’s Deputy President for Cooperation with the United Arab Emirates (UAE), Mladjan Dinki helped facilitate talks between Emirati and Montenegrin officials in Abu Dhabi.
According to "EX-YU Aviation News," Pejovic said the deal, which will entail code sharing, will also allow (MNO) access to Etihad (EHD)'s resources, thereby allowing it to improve fleet utilization during the slow winter months.
No firm decision on (EHD) acquiring equity in Montenegro Airlines (MNO) has been reached Pejovic added.
August 2016: The national carriers of Balkan countries Serbia and Montenegro have signed a code share agreement that substantially broadens options for Montenegro Airlines (MNO) passengers.
Subject to governmental approvals, the agreement will allow (MNO) to connect its network to the significantly larger route map of Air Serbia (JAT).
(JAT) will strengthen its air links to neighboring Montenegro by placing its JU code on (MNO)’s flights from the Serbian capital Belgrade to Podgorica and Tivat. In addition, Air Serbia (JAT) will code share on services between Podgorica and Rome.
(MNO), meanwhile, will tap into (JAT)’s network by adding its YM code on Air Serbia (JAT)’s flights between Belgrade and 32 destinations, including Tivat and Podgorica.
The deal will allow Montenegro-originating passengers access to a wider range of European destinations and, through (JAT)’s service to Abu Dhabi, to Etihad Airways (EHD)’s global network. Abu Dhabi-based (EHD) owns 49% of Air Serbia (JAT), which is one of the Arab carrier’s partner airlines.
“With this agreement, travelers in Montenegro can take advantage of seamless connections over Belgrade to key cities in Europe, the Middle East, and North America that are now within much closer reach,” Air Serbia (JAT) (CEO) Dane Kondic said. (JAT) recently began a Belgrade - New York (JFK) service.
“In turn, Air Serbia (JAT) will deepen its network footprint in Montenegro, a country with many historical, cultural and religious links to Serbia and a popular summer hotspot, making it a win-win deal for both airlines,” Kondic said.
Montenegro Airlines (MNG) Chairman, Daliborka Pejovic said, “We have opened the door of our national airline to enter Etihad Airways Partners, with airlines such as Alitalia (ALI) and airberlin (BER), which was an objective of the meeting held with representatives of Etihad Airways (EHD) in Abu Dhabi in February this year.”
“By opening 32 new destinations for passengers from and to Montenegro, (MNO), the national carrier is significantly contributing to the transportation accessibility of Montenegro, particularly by air, and establishing links between our country and new markets.
“The agreement with Air Serbia (JAT) is an exceptional opportunity for helping find a future strategic partner for the Montenegrin carrier, which is the objective of the Privatization Council of the government of Montenegro."
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0 737-200 (JT8D).
0 767-300ER, (EIY) WET-LSD 1999-04. RTND.
0 F28-4000 (SPEY 555-15P) (11176, YU-AOI; 11184, YU-AOH), STORED AT ATHENS 1999-05, TRADED IN TO (FSH) 2000-06.
1 F28-4000 (SPEY 555-15P) (11187, /82 YU-AOJ), WET-LST (ADH). 85Y.
2 F 100 (TAY 620-15) (11272, /89 4O-AOK "SVETI PETAR CETINJSKI") (11268, /88 4O-AOL "PODGORICA"), EX-(AUK) 2000-12, EX-(KLM) & (FSH), 11272; WET-LST ALBATROS AIRWAYS 2004-11. 11268; WET-LST BELLE AIR (BEL) 2006-12. 102Y.
1 F 100 (TAY 650-15) (11321, /90 4O-AOM "BAR"), (DEA) 39 MTH LSD 2002-07. 109Y.
1 F 100 (TAY 650-15) (11332, /91 4O-AOP "BOKA"), (DEA) LSD 2003-05. 102Y.
1 F 100 (TAY 650-15) (11350, /91 4O-AOT), EX-(TPR), (DEA) LSD 2005-02. 109Y.
4 EMBRAER E195-LR (CF34-10E5) (0180, /08 4O-AOA; 0283, /09 4O-AOB, 2009-05; 0358, /10 4O-AOC; 0665, /14 4O-AOD, 2014-05), (GEF) LSD, 116Y.
0 LET 410 UVP-E (902422), PELICAN BLUE LSD 2000-08. RTND.
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DALIBORKA PEJOVIC, CHAIRMAN & PRESIDENT (firstname.lastname@example.org).
PETAR GLOMAZIC, DEPUTY CHIEF EXECUTIVE OFFICER (CEO) (email@example.com).
STANA MUGOSA, FINANCIAL DIRECTOR (firstname.lastname@example.org).
CEDOMIR DJURISIC, COMMERCIAL DIRECTOR (email@example.com).
MILETA NIKOLIC, AIRCRAFT MAINTENANCE DIRECTOR (firstname.lastname@example.org).
VUKA ZECEVIC, FLIGHT OPERATIONS DIRECTOR (email@example.com).
VESNA PAVICEVIC, DIRECTOR PLANNING, ACCOUNTING & ANALYSIS (firstname.lastname@example.org).
MLADENKA VUKMIROVIC, DEVELOPMENT DIRECTOR (email@example.com).
BILJANA MEDOJEVIC, LEGAL, STAFF & JOINT ACTIVITIES DIRECTOR (firstname.lastname@example.org).
VLASTIMIR RISTIC, GROUND OPERATIONS DIRECTOR (email@example.com).
TOMISLAV MIROTIC, SECURITY DIRECTOR (firstname.lastname@example.org).
DANILO MIJAC, QUALITY CONTROL (QC) DIRECTOR (email@example.com).
DRAGAN POPOVIC, FLIGHT PERSONNEL TRAINING CENTER DIRECTOR (firstname.lastname@example.org).
ALEKSANDRA GARDASEVIC-SLAVULJICA, MARKETING & CORPORATIVE COMMUNICATIONS DIRECTOR (email@example.com).