Malév shareholders to vote on HUF 8 bln capital raise

Telco

An HUF 8 billion capital raise is the only point on the agenda for a shareholders meeting of Hungarian national airline Malév 

The planned capital injection, however, is not enough: still needs another HUF 10.5 billion on top of this, business daily Napi Gazdaság learned on Thursday, without citing any sources.

The capital is necessary to bring Malév's net assets up to the minimum required by law. At present, the airline has net assets of negative HUF 22.5 billion.

Under legislation on companies, Malév has until August 25 -- 90 days from the approval of balance sheet -- to adjust the situation.

The Hungarian national asset management company MNV injected HUF 4.5 billion into Malév in June. At the time, it said the airline's capital would be raised in two steps.

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