Montenegro to sell 30 percent of of its national carrier

The government of Montenegro has announced that it will sell a 30% stake in Montenegro Airlines.

According to the Associated Press, the government said Monday the total nominal value of its national carrier is $34.64 million.

It said the tender will be open until Dec. 15 and potential bidders must have at least five years' experience in the airline industry and a fleet of at least ten aircraft, and have carried at least two million passengers in 2009.

The Associated Press also reports that the government did not set a starting price for the offered share package.

Montenegro Airlines has a fleet of 10 airplanes, including Fokker 100s and Embraer 195s. It flies to 16 European destinations from Podgorica, the country's capital, and from the seaside resort of Tivat.