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Malév saves HUF 5 billion in half a year

Malév cut its operating costs by about HUF 4.7bn in the first half from the same period a year earlier, while passenger numbers were unchanged at 1.3m, the airline said. Malév cut the number of flights during the period by 16%, but load factor rose by 3.5 percentage points to 63%, said company spokesman Ádám Hegedűs.

Malév started a cost-saving programme last year under which the airline reduced its fleet to include just Boeing 737 and Bombardier Q400 aircraft. It cut staff by 25%, ended loss-making routes and is in the process of closing offices in twelve countries. CEO Martin Gauss said the cost cuts were still not enough to stop losses, but he noted that Europe's entire airline industry was in the midst of a serious crisis. (BBJ)