Montenegro Airlines has ceased operations this evening with the company to be shut down, ExyuAviation.com reported. The carrier's final commercial service was operated between Belgrade and Podgorica as flight YM103. In a statement, the airline said, "The Montenegrin government's decision to shut down our company will have a negative impact on the entire aviation sector in the country. We would like to inform the public that starting tomorrow, December 26, 2020, we are completely suspending all operations". The airline carried some ten million passengers over the past two and a half decades, with over 350 people loosing their jobs tonight. The Montenegrin government has announced that a new carrier will be formed in its place within the next six to nine months. “With the best possible intentions, we spent the last fifteen days seeking a solution for Montenegro Airlines. We looked at all the possibilities, made calls, held talks with the management, the Agency for the Protection of Competition regarding state aid, contacted airlines in the region, consultants from Germany and Austria, and the conclusion was that we can’t make a single decision that would save Montenegro Airlines and be in line with the law. We are fully aware of the consequences of Montenegro Airlines ceasing operations in a day or two”, the Montenegrin Minister for Capital Investment, Mladen Bojanić, said. Read more.