Founding of New Airline ToMontenegro Begins – Initial Capital EUR 30 Million

In under a month, the Government of Montenegro, through the rationalization of spending of EUR 4 million, started the founding of a new national airline carrier, ToMontenegro, tweeted Montenegrin Minister of Finance and Social Welfare Jakov Milatovic.

According to him, the company will have a total of EUR 30 million as the initial capital.

Let us remind that, on the last date in 2020, the Montenegrin Official Gazette published the decision on the founding of the airline carrier ToMontenegro.

It is said that the government had reached the decision on the founding of the new airline carrier on December 30, without holding a session, based on the obtained approval of the majority of the members.

The decision says that the founder of the company is the Government of Montenegro, with a 100% share.

The founding capital is EUR 30 million and the sum will be paid within a year of the company’s registration, in one or more installments, of which EUR 4 million will be paid with the registration.

The decision was signed by Prime Minister Zdravko Krivokapic and it came into effect with the date of the publication in the Official Gazette.

Montenegro Airlines

ToMintenegro

Ministry of Finance and Social Welfare of Montenegro

Government of Montenegro

Jakov Milatović

Zdravko Krivokapić

founding of ToMontenegro

closing of Montenegro Airlines