Montenegro Airlines is reported to have been offered for privatization, the country’s Privatization and Capital Investment Council has announced.
According to several media outlets, the airline’s shareholding will be sold via a public tender.
Previous attempts to offload the loss-making Balkans airline have met with failure.
The council reportedly said in a statement: “We cannot specify at this point in time the pace in which the privatisation process will take place.”
In 2009, a joint El Al Israel Airlines and European Bank for Reconstruction and Development bid for control of the airline, and Podgorica and Tivat airports failed, when the government decided against an offer.
In 2011, the tender was met with no responses despite Arkia Israeli Airlines and Etihad Airways purchasing tender forms, while Turkish Airlines have also been linked with a takeover.
Montenegro Airlines, joins the likes of Croatia Airlines and Adria Airways in looking for new investors capable of injecting capital into them.