Are you sure?

EU approval of Malév restructuring program can wait until October

The daily Népszabadság has learnt that the draft plan for restructuring the national carrier Malév is already being considered by EU officials in Brussels, the newspaper reported on Wednesday.

The paper said it has been informed that there is nothing to press an approval of the program, since a substantive intervention by the state to ensure sustainability of the company will be required only after the seasonally strong summer, in October at the earliest.

The paper said the contents of the restructuring package are as yet unknown, but it is certain to include both a proposed reduction in capacity and staff cuts. The paper noted that the program must be submitted to the EU because the Brussels commission is wary of government involvement in airline companies. (MTI-ECONEWS)