No bids for decommissioned MiG-29s
A tender for the sale of 19 decommissioned MiG-29 fighter aircraft of the Hungarian Air Force has drawn no interest, business daily Világgazdaság reported on its website.
Photo: Wikimedia Commons
Hungarian National Asset Management Inc. (MNV) said that the tender had been declared without a result after no bids were received. The aircraft, together with 20 replacement engines and almost 300 spare parts and munitions, had been offered for HUF 2.8 billion.
When Hungary acquired the aircraft from Russia in 1993, as partial repayment of government debt, they were worth USD 800 million. The MiG-29s were later phased out and replaced with Swedish-made Gripens.
According to a Russian-Hungarian bilateral agreement signed in 2002, Hungary, being a member of NATO, could sell the aircraft only with the prior permission of the government of the manufacturing country, the Russian Federation. This requirement significantly reduced the potential customer base, vg.hu noted.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.