Lithuanian airline to offer $154 mln for Malév

Analysis

Investment holding Zia Valda, the indirect owner of Lithuanian carrier AB Lietuvos Avialinijos, will set aside as much as $154 million to buy Hungary's national airline Malév Zrt, Bloomberg reported citing Lithuanian daily Lietuvos Rytas.

Should it purchase Malév, which is seven to eight times bigger than Lietuvos Avialinijos, the carriers would jointly use Vilnius to fly to American and European destinations and Budapest to fly to Asia and Australia, Gediminas Ziemelis, a representative of Zia, told Rytas.
Hungary received three other offers to buy Malév. Boris Abramovich, owner of OAO KrasAir, is competing with a group including entrepreneur Ofer Hava, former Aer Lingus Chairman Tom Mulcahy and Sky Alliance Zrt.

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