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Malev ceases operations
03.02.2012
Categories:
Aviation, European Union
Tags:
Hungary,
Malev ceases operations
Hungarian airline Malev ceased operations at 6am (CET) this morning, after 66 years of operations.
In a statement, Malev’s CEO, Lóránt Limburger, said the airline’s partners had lost confidence in recent days and had started to ask the airline for advance payment to provide services. “This cash outflow is accelerated to such an extent that the airline is now untenable situation,” he said.
He noted that the Hungarian government could no longer provide the company with financial support following an EU decision last month.
“This cash outflow is accelerated to such an extent that the airline is now untenable situation,” said Limburger.
Categories:
Aviation, European Union
Tags:
Hungary,