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Hungary’s loss-making Malév gets HUF 3 bln cap hike

  Hungarian national airlines Malév’s owners will inject HUF 3 billion ($12.74 million) into the firm to solve its financing problems, it said on Wednesday following an extraordinary shareholder meeting.

In a statement quoted by the national news agency MTI Malév also said that Russia’s Vnesheconombank, Malév’s biggest lender, took over the shares of Russian businessmen Boris Abramovich in AirBridge Zrt, the owner of the airlines.

Hungary sold Malév to AirBridge, which was then part-owned by Abramovich, in 2007.

The shares of Hungarian businessman Kálmán Kiss in AirBridge were taken over by businesswoman Magdolna Koltó, maintaining 51% Hungarian ownership in Malév, the airlines said.

Malév is expected to need further capital increase due to its losses and to meet legal capital requirements AirBridge will grant more financing at the annual shareholder meeting, once the final financial data of Malév are available, the statement said. (Reuters)