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8 MARCH 2010

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Article from BTNews 8 MARCH 2010

Malev re-nationalised

MALEV has become the first European airline of any consequence to be re-nationalised.  The Hungarian government now owns 95% of the carrier, the Russian investors, part of the Airbridge group just being left with 5% of the equity.  In its two years of ownership Airbridge was unable to turn around the loss making carrier the government now saying that it is in the interest of the country that there is a national airliner.  The independent Hungarian airline Wizz, which is based in Budapest, has announced that it will appeal to the EU to try and stop the re-nationalisation.  “Malev is a non-viable business and will remain financially non-viable in the future.” www.malev.com

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