Luxembourg-American company Corporación América Airports (CAAP) plans to invest €319 million in renovating Podgorica and Tivat airports, €63 million more than South Korean competitor Incheon International Airport Corporation (IIAC).
CAAP aims to start work in March 2026, earlier than IIAC’s planned January 2027 start, and expects to complete the first phase by December 15, 2028.
CAAP also intends to establish low-cost carrier bases at both airports—three Wizz Air planes in Podgorica by 2029 and two EasyJet planes in Tivat by 2034. IIAC has no plans for such bases and would encourage low-cost airlines to reduce or relocate services to neighboring airports like Dubrovnik and Tirana, which offer more attractive incentives.
According to a government evaluation report, both bidders meet minimum investment requirements, but CAAP proposes significantly higher investments, more integrated terminal solutions using eco-friendly materials, larger terminal areas (about 40% bigger), more parking spaces, and additional works at both airports.
CAAP’s experience managing airports in Italy gives them an advantage in route development and faster market analysis, supporting an earlier operational start in Montenegro.
The government extended the technical evaluation deadline to July 9 to review these differences before making a final decision.
