Are you sure?

Abramovich has no plans to sell Malév stake

Boris Abramovich has no plans to sell his stake in Hungarian airline Maláv, the Russian airline tycoon said in an interview published in Monday's issue of Russian daily Vedomosti.

Abramovich owns a 49% stake in Hungarian company AirBridge, which holds 100% of Malév. He is also the owner of AiRUnion, which is on the brink of bankruptcy.

Abramovich said AiRUnion's problems have nothing to do with Malév, because money from the one company is not being put into the other. The problems are being solved in the company in which they started, he added.

Asked whether Malév will be profitable this year, Abramovich said layoffs are being made, and as the structure of losses is being transformed, the business plan is being revised.

Malév requires extra capital, just as any airline, does, but how much depends on what turn the global financial crisis takes, he said. (MTI – Econews)