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Malév receives HUF 18.5 bln capital injection

A Tuesday EGM of Hungarian national airline Malév decided to raise the company's capital by HUF 18.5 billion, Malév’s main owner, the Hungarian National Asset Management Company (MNV), announced.

The MNV said it would swap HUF 9.98 billion in loans and their market-rate interest, provided pursuant to 2010 credit contracts, as an in kind contribution, into equity. It will also provide HUF 8.52 billion as contribution in cash.