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Malév EGM suspended for 30 days

An extraordinary general meeting of Hungarian national carrier Malév - called at the end of November to address the airline's capital position - was suspended on Friday for a period of 30 days.

Malév spokeswoman Krisztina Németh told MTI that the airline had experienced many difficulties lately, as had other industry players: kerosene prices rose dramatically in the first half of the year, the global recession worsened in the second half, and workers at Budapest Airport started to strike from December 30. In spite of these problems, the airline continues to operate, and the EGM to reconvene within 30 days will put Malév's capital position in order, she said.

Malév does not wish to involve itself with speculation in the press on its ownership structure, Németh said.

Business daily Napi Gazdaság reported on Friday that Russian airline magnate Boris Abramovich would sell his 49% stake in Malév owner AirBridge to Russia's Aeroflot. Two Hungarian private individuals that hold the remaining 51% of AirBridge could part with their stakes as well, the paper wrote. (MTI – Econews)