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No vote on reworked business plan at Malev EGM

Shareholders of Hungarian national carrier Malév did not vote on a reworked business plan for the airline at an extraordinary general meeting on Friday, because of strategic decision expected to be taken in the near future, the National Asset Management Company (MNV) said in a statement sent to MTI.

MNV said the outcome of "the talks with potential investors could substantially influence the company's operations in 2011 and its new vision...".

Shareholders did make decisions on changes to the board of directors and the supervisory board.

Malév shareholders asked the management to draw up a reworked business plan for 2011 because of the uncertain macroeconomic outlook and market conditions at an EGM on March 11.

Troubled Malév was renationalised in March 2010, but Russia's state-owned Vnesheconombank still holds 5% of the airline's parent company.