2 NOVEMBER 2009

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Article from BTNews 2 NOVEMBER 2009

Hungarian airline problems

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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