Malév sells kerosene branch
Monday, May 30, 2005, 00:00
Malév Rt plans to cut its operational losses by Ft 2.6 billion in 2005, daily Napi Gazdaság reported. Malév?s 2005 business plan expects a balance sheet profit after selling the fuel branch. Malév?s general assembly approved last year?s business report with a non-consolidated deficit of Ft 4.9 billion and a consolidated deficit of Ft 4.95 billion. Shareholders also decided that former CEO László Sándor, who left the company at the end of January, must repay 80% of his last year?s premium advance, as only a part of the targets have been achieved. The sum was not disclosed by the State Privatization Holding ÁPV Rt.