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Malev shareholders fail to take decision on capital position

Deals

An extraordinary general meeting of Malev shareholders was suspended on Friday before a point on the agenda concerning the troubled national airline’s capital position was reached.

The EGM will reconvene on January 27.

Malev closed 2010 with negative net assets of HUF 22.5bn, thus the National Asset Management Company, which holds almost 100% of the airline, raised capital in two steps, approving a HUF 4.5bn increase in April and an HUF 18.5bn increase in August. The airline also received owner loans of HUF 4.2bn in November and HUF 5bn at the end of December.

Troubled Malev was renationalised early in 2010, before the current government came to power.

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