Loss for Montenegro Airlines

Montenegro Airlines will record losses of over €7 million for 2014, compared to a loss of €3.9 million last year. With passenger numbers continuing to decline, the carrier will lease some of its aircraft to the Kosova Reisen tour operator to boost capital reserves. The numbers represent the carrier’s worst financial performance since it began operations. Losses have been blamed on spring floods in Serbia, the crisis in Ukraine and its own policies.