Three years after being privatised, in an effort to save the carrier, Malev (Hungary) is renationalised with the government taking a 95% stake in the company, and the original privatisation owners (Airbridge) taking a 5% stake.
The main reason of course – is the bad economic climate that is only starting to had towards a recovery.
Malev has been through the fiscal mill recently with it’s equity and liquidity issues needing resolution before much further – in other words, more restructuring of the airline – again (with the losses to be expected – both in routes, suppliers and sadly – in staff.
In some way – not unexpected – Malev has had a hard time of it, with most of its long haul network chopped and sliced, it’s long haul fleet long since gone into charter operations, with it trying to focus on EU and shorthaul ops since 2008.
Let’s hope Malev can pull through.