Malev Airlines bankrupted
The Hungarian airline Malev stopped its flights this morning to contain this information on its website once before, the government issued an order for protection from creditors because of the imminent danger of bankruptcy of the state airline said Tuesday. “On February 3 6:00 local time, after 66 years operation of the airline has no aircraft Malev will fly”, said the CEO Lorant Limburger in the message. Malev is facing an increasing danger of insolvency after the information that is on the verge of bankruptcy, Limburger said, adding that suppliers have requested advance payment “today for tomorrow”, putting the company in an impossible position. Malev is facing financial difficulties for years. In early 2012 the European Commission told Hungary to recover millions of euros aid for the airline since it was granted contrary to competition rules in the EU.
Following this decision, Budapest stopped any financial support for Malev.
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