Malév must sell fuel unit to break even this year
Monday, August 15, 2005, 09:04
Malév Rt, Hungary's national airline, must sell its fuel unit or other assets to meet plans to break even this year, daily Napi Gazdaság said. In the first six months of 2005, book equity at Malév fell below registered capital, the total face value of shares, and became negative, Napi said, citing a television interview with Tamás Mészáros, chairman of Hungary's state-owned assets-sales agency, which is selling the airline. Malév's future owner will be expected to raise the airline's capital and pay off debt totaling Ft 36 billion. The main bidder for Malév, a group led by Russia's KrasAir, offered Ft 160 million.