January 30 (SeeNews) - State-owned flag carrier Montenegro Airlines (MA) has signed an agreement to repay its debt to the country's airport operator Aerodromi Crne Gore, the transport ministry announced.
Under the terms of the agreement, MA will repay its 760,496 euro ($811,884) debt, including interest, to Aerodromi Crne Gore in 108 instalments as of March, the ministry said in a statement on Friday.
The agreement on the debt repayment scheme was signed on December 27.
The transport ministry said it had enquired about a possible cancelling of the interest on the debt. It added that a new agreement would be needed for such a measure to take effect.
In March 2016, the commercial court in Podgorica ordered MA to repay debt for services provided by the airports of Tivat and Podgorica in 2011. The ruling was upheld by the Court of Appeal and a public administrator was appointed.
Earlier this month, the Montenegrin government said it aims to sell a 50% stake in MA minus one share.