South Korea’s Incheon International Airport Corporation (IIAC) has been ranked as the top bidder in the tender for the concession of Montenegro’s airports, scoring 96.18 points. The Luxembourg-American consortium Corporación América Airports (CAAP) came in second with 65.15 points. This marks the formal conclusion of the longest tender procedure in Montenegro’s history, which began under Prime Minister Duško Marković and continued through three more administrations.
However, the conclusion is largely procedural, as the real outcome remains uncertain. Bidders have 15 days to appeal, and due to the numerous controversies surrounding the process, an extended legal battle is expected. A final government decision might not come before September or later.
The process has been marred by irregularities and a lack of transparency, including the leaking of confidential information, questionable re-evaluation of bids, and alleged political and diplomatic pressure. These issues have severely undermined trust in the integrity of the tender. Reports suggest the process even attracted the attention of foreign embassies and high-level advisors from the Trump administration, though not officially confirmed.
One of the most contentious issues was the double scoring of technical bids. In the first round, IIAC received 79.7 points—below the 80-point minimum threshold—and should have been disqualified. CAAP scored 85 points. However, a second evaluation reversed these results, giving IIAC 81.69 and CAAP 87.8, prompting protests from some commission members.
Another dispute involved the interpretation of tender rules. Regulations stated that bidders who did not propose investments in specific infrastructure should receive zero points for that segment. Despite this, the commission, citing advice from the International Finance Corporation (IFC), chose not to apply this rule—drawing criticism and accusations of bias in favor of IIAC.
The tender has revealed divisions within the Montenegrin government. One faction supports IIAC, another backs CAAP, and a third prefers maintaining the current state-run management for political control and employment leverage. Experts argue that both financial offers are underwhelming and predict a lengthy appeals process.
In terms of investment plans, CAAP proposed significant upgrades to core infrastructure, including terminal reconstruction and an earlier start date in March 2026, with a total investment of €319 million. IIAC focused more on maintenance and commercial activities, with construction set to begin in January 2027. CAAP’s offer includes €63 million more in investments than IIAC’s. Fixed concession fees from both bidders are similar, around €100 million.
Despite these differences, experts agree that neither proposal marks a substantial step forward in the development of Montenegro’s aviation sector. The process is expected to drag on, entangled in legal disputes and political maneuvering, with control over a strategic asset hanging in the balance.
