Hungarian Airlines Malév is to get a HUF 8.5 billion (EUR 31.17 m) capital injection from the state that is re-channeling this sum in the budget as an extraordinary government measure. The carrier already got an injection in June.
The decree published in the official government paper, the Hungarian Gazette, shows that Economy Minister György Matolcsy is responsible for the decision that has come into effect immediately.
Malév had negative assets of HUF 22.5 bn in 2010 and under legislation on companies, it has until 25 August – 90 days from the approval of its balance sheet – to remedy the situation.
Malév’s owner, the Hungarian National Asset Management Company approved the balance sheet on 25 May and injected HUF 4.5 bn into the carrier this June.
(source: portfolio.hu)
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