Tag Archives: european commission
Growth and Stability EU style
The Hungarian national airline Malev has folded after the European Commission ordered Malev to repay various forms of state aid received from 2007 to 2010.
"Despite its best interests the owner can no longer provide financial resources for the operation of the airline in the wake of the condemning decision of the European Commission," an airline statement said.
The sums involved amounted to 38 billion forints (130m euros; $171m; £108m), a sum equal to its entire 2010 revenue. The carrier employs 2,600 people and is responsible for close to half of all air traffic at Budapest Liszt Ferenc airport.
Part of the Oneworld airline alliance, which also includes American Airlines and British Airways, Malev has a leased fleet of 22 passenger aircraft.
Story News of the World
Can we leave now?