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Malév makes HUF 3.3 bln of cost-savings in Q1

Hungarian national carrier Malév made HUF 3.3 billion in cost-savings in the first quarter by cutting capacity and reducing payroll and operating costs, Chief Sales Executive Karim Makhlouf said.

Malév plans to make an annual HUF 800 million in cost-savings in the coming years, Makhlouf said.

Cost-savings as a result of a restructuring of sales started in April 2009 have come to HUF 300 million so far. The effect of the changes will be most evident in 2010. (MTI – Econews)