Malév moves into 95% state ownership
Hungarian airline Malév moves into 95% state ownership after series of negotiations. All parties involved in Malev’s owneship signed the document on Friday. The remaining 5% retains to AirBridge. The change of ownership is managed by a reduction in the equity of Malév and then a capital increase.
The Hungarian State was involved in the equity increase of Malév in part with cash, and in part with a non-capital contribution through the conversion of earlier debts. The majority holding of the Hungarian State has opened the way to the creation of financial stability for the operation of the airline. At the same time the ongoing, intensive restructuring programme must be continued partly so that the financial rescue of the company consumes the minimum possible taxpayers’ forints, and partly so that the European Union does not declare the role of the Hungarian State as banned state support. Continue to malev.com for details.
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