State acquires two jets for ToMontenegro

The Montenegrin government has reached an agreement with financing and leasing company GE Capital Aviation Services (GECAS) to acquire two Embraer E195 aircraft for the country’s new national airline ToMontenero. The two jets were previously operated by the former national carrier Montenegro Airlines under a financial lease deal with GECAS, which would have seen the company become the aircraft’s owner over time. However, the airline had to make a further 39 million US dollars in payments for the jets. The Montenegrin government managed to renegotiate the purchase price to 21.780.000 US dollars. Had the agreement been terminated, it would have set the state back 43 million US dollars.