Source: BBC News
Hungarian airline Malev collapses
The Hungarian national airline Malev has folded after its financial situation became unsustainable.
"At 0500 GMT... after 66 years of almost continuous operation Malev will no longer take off," it said.
It came after the European Commission ordered Malev to repay various forms of state aid received from 2007 to 2010.
The sums involved amounted to 38 billion forints (130m euros; $171m; £108m), a sum equal to its entire 2010 revenue.
"Despite its best interests the owner can no longer provide financial resources for the operation of the airline in the wake of the condemning decision of the European Commission," an airline statement said.
Hungarian airline Malev collapses
Moderatoren: Markus, Triple Nickel
-
White Cap
- Senior User
- Beiträge: 2386
- Registriert: Donnerstag 10. Juni 2004, 15:34
- Wohnort: 47652 Weeze
Hungarian airline Malev collapses
' Fiat Justita'