2 NOVEMBER 2009
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MALEV, the national flag carrier of Hungary, could be rescued from its latest financial crisis by the Budapest administration. It was in February 2007 that the state airline was privatised, a 49% shareholding taken up by a Russian government controlled bank, the balance acquired by Hungarian investors. It soon afterwards joined oneworld and appointed as CEO Lloyd Paxton, a 35 year old British Airways veteran, who had previously held the same position at Air Astana. Paxton lasted a bare three months. Malev no longer operates across the North Atlantic and concentrates on intra-European routes. www.malev.hu
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