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 Malev stopped flying because of bankruptcy

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villyman
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PostSubject: Malev Airline Finished   Fri Feb 03, 2012 8:40 am

The BBC is reporting that Malev who have a tie-in agreement with BA has stopped Flying.

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If your booked with BA via Budapest you might want to check your flight status.
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PostSubject: Malev stopped flying because of bankruptcy   Fri Feb 03, 2012 8:50 am

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Translated with google

Malev stopped flying because of bankruptcy

Hungarian airline Malev stopped its flights because of imminent danger of bankruptcy, announced Monday.
Hungarian airline Malev said on Monday that it has no means to continue to operate.
"
On February 3 6:00 local time, after 66 years operation of the airline has no aircraft of Malév will fly,"
said 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 situation.
This was despite government attempts to restructure the carrier and to save him from the operation of the procedures for bankruptcy.
Government decree signed by Prime Minister Viktor Orban days ago, Malev set a strategically important company, to prevent creditors to start procedures for bankruptcy.
The decree allows the government to begin the process of liquidation of the carrier. Malev's management had to develop a plan for how you will be provided the necessary liquidity to ensure the company. The European Commission has issued a decree in January, forcing the carrier to return the state aid received in the period 2007-2010
After the failed privatization of Malev, Hungary in 2010 bought airline than 5%. The airline employs 2600 people and has 40% of turnover at the airport in Budapest. Two years ago, the airline reported a loss of EUR 110 million dollars.


Spanair declared bankruptcy in January fined 6 million


Spanish airline Spanair (Spanair) today announced the bankruptcy after the surprise out of business and left without transport 20,000 passengers bought tickets canceled at the end of the week over 220 fields, DPA quoted by BTA. Spanair said it had accumulated debts of over € 300 million.
On Saturday, the Spanish government said it would sue Spanair for alleged violation of security rules and violations of consumer rights of citizens with the termination of its activities. Development Minister Ana Maria Pastor Julian said the government has begun proceedings that could lead to fines of € 6 million for two "
serious violations"
of the aviation security legislation.
The airline Spanair announced late Friday that it has decided to cease its activities and its aircraft will not fly. Spanair headquarters is located at the airport in Barcelona and employs nearly 2,000 people, and besides, it uses the services of nearly 1,200 people ground staff. The air carrier said it suspended its activities after the Spanish regional government said it could no longer finance it.
Meanwhile, Moody's said that the banking reform and labor will have a positive impact on the economy of Spain is not earlier than 2013. According to rating agency Spain will be able to reduce the budget deficit in 2012 to a projected 4.4%. Moody's also defined as a negative credit outlook for the kingdom of the next two years.
"
The government will present in March 2012 draft of the new budget and new measures to control the deficit, but in our country will be very difficult to implement the plan for this year,"
emphasized by the agency.

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PostSubject: Re: Malev Airline Finished   Fri Feb 03, 2012 10:29 am

[You must be registered and logged in to see this link.] wrote:
The BBC is reporting that Malev who have a tie-in agreement with BA has stopped Flying.

[You must be registered and logged in to see this link.]

If your booked with BA via Budapest you might want to check your flight status.






Oh Buggar !!...Its getting harder and harder to get out of this B..... country
thanks for info Villyman ...I,d missed that report
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Malev stopped flying because of bankruptcy

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