MALÉV Hungarian Airlines just a brand name
Hungarian Airlines is not only teetering on the brink of bankruptcy but the government let MALÉV go bust.
8 December 2011
The largest private airline in the Czech Republic, Travel Service is in negotiations with the government of setting up a new Budapest based national airlines. MALÉV is most likely to be a brand name only under the Czechs's ownership because the Hungarian government let the company go bankrupt. The Czechs, therefore, would take over the brand name without debts.
"The government aims to find out a long term solution for improving air traffic with a Budapest based national airline where scope of owners needs to have 51% interest in the EU but saving of MALÉV as a company is not part of proper prupose of the government." - said Tamás Fellegi, Ph.D , Minister of National Development at a press conference on 5 December. He added that negotiations with EU investors in progress and the final agreement is expected to be made by Spring 2012.
WHITE PAPER on MALÉV Heritage
The minister presented a White Paper that gave a detailed overview of what reasons led to difficult situation of MALÉV.
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