Parliament votes to establish committee for Malév

City

Parliament on Monday voted to establish a ten-member committee to assess the privatization of Hungarian airlines Malév and its subsequent re-nationalization, as well as the privatization of the operator of Budapest's international airport Budapest Airport.

The proposal by accountability commissioner Gyula Budai was approved with 273 ayes, 52 nays and three abstentions.

The committee will assess the sale of state-owned Malév shares between 2004 and 2006, the selection of the company that appraised the company's assets and the extent to which state interests were represented during the privatization process. The committee's tasks will also include an assessment of the management's decision resulting in the award of veto rights to minority owner Vnesheconombank of Russia.

In its review of the privatization of Budapest Airport, the committee will try to determine how a clause was established on the basis of which the company was to be paid in the event of the liquidation of Malév.

The committee will have 180 days to prepare a report and submit it to parliament.

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