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Russia KrasAir makes highest bid for Malév

The Russian KrasAir could be the hot favorite to take over Malév Rt, Hungary?s national air carrier, after it made the highest bid to buy a 99.95% stake in the troubled airline, daily Magyar Hírlap said quoting an unnamed source. KrasAir, which entered a bid for Malév along with two other suitors, Aviation Solution International (ASI) and an unidentified third investor, has allegedly also undertaken to take over half of Malév?s Ft 36 billion debt burden. While ASI made a similar offer, its bid is believed to be lower than KrasAir?s, the paper said. ÁPV, which has already abandoned negotiations with the third bidder, is scheduled to announce the result of the tender later this week.