Iranian airline execs set up Crna Gora Airways

Two Iranian airline executives have joined forces with a local Montenegrin businessman to set up a new Podgorica-based airline - Crna Gora Airways. The carrier will focus on shuttling passengers between Iran and Europe via Montenegro and plans to rival national carrier Montenegro Airlines. The two airline executives from Iran are VSP Kish CEO, Mohammed Hossein Kadivar, and the company's President of the Board of Directors, Alireza Atashzereh. VSP Kish initially inked an agreement for Montenegro Airlines to operate a regular one weekly seasonal summer service from Podgorica to Tehran, however, the deal never materialised. The Montenegrin partner in the airline venture, who owns a 51% stake in the new carrier, is hotelier Veselin Pejović, who also owns the aluminium maker Uniprom. Uniprom was Montenegro's biggest exporter last year.

Crna Gora Airways was registered on May 30 and is now in the process of obtaining necessary permits in order to launch operations. Mr Atashzereh will serve as the airline's CEO, with the company initially planning to lease a single Airbus A320 aircraft to maintain flights. Some analysts believe the new carrier is being set up to eventually replace the debt-stricken Montenegro Airlines, which has been forced to downsize its fleet and destination network this year after posting a record 11.4 million euro net loss in 2016. Furthermore, Montenegro's tax authority recently rejected a tax restructuring program submitted by the carrier. Montenegro Airlines owes the state 15.4 million euros in tax and unpaid worker benefits. The carrier suggested for its debt to be reprogrammed and repaid over the next five years, however, this was turned down by the tax regulator.

Montenegro Airlines has not directly commented on the establishment of Crna Gora Airways but noted, "The company's management, together with the competent ministries, is developing a long-term and sustainable solution to resolve the national airline's status". During the first half of 2017, Montenegro Airlines handled some 230.000 passengers, which is on par with last year's result. It comes despite a marginal decrease in the number of operated flights. More than half of its passengers were carried on services to and from Belgrade. By the end of the year, the airline anticipates handling around 550.000 travellers.