Well the inevtiatable has happened, and Malev has stopped operating due to liquidity issues. In other words, they haven’t got the cash to continue.
As of 05:00 GMT (06:00CET), all Malev flights have been grounded.
The press release from Malev.com is below
“Unfortunately, the event occurred which we had a greatest fear of and we wanted to avoid with might and main. Although, until the latter days there were prospects to continue operation and the trust of our passengers is unbroken, our partners lost their trust due to the information published in the last days and they started to ask for payment of their services in advance.
This speeded up the cash outflow and the situation of the airline became untenable. It is also known that the owner, despite the best intentions, is unable to provide additional financial resources to operate after the EU decision.
Considering all these the Board decided to order the cease of operation of the Hungary’s National Airline. We apologize to all of our passengers.”
The Hungary Call Centre is open with advice on how to get to your destinations, and other carriers are scrambling to rescue. Expect the usual suspects (Ryanair, WizzAir) to step in.
Malev has also confirmed that assistance can be provided to those passengers who purchased their valid tickets before Malev cease and whose travel dates are on the suspension day or on the following three calendar days. For those already on outward segements, In addition, to those who already travelled to their destination on the suspension day or before and posses valid return tickets on Malév flights on a date not later than 29th February 2012.
Those who are entitled are going to have assistance from Malev by rerouting their tickets to other flights or other modes of transportation according to Malev.
So that’s TWO Airlines fallen in a week. Who’s next?