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NVT to discuss second tranche of Malév loan at end of May

Hungary's National Asset Management Council (NVT) will discuss the second, HUF 4.05 billion (€15 million) tranche of an owners loan to national carrier Malév at the end of May, the council's agenda for the second quarter shows.

The council's members announced at their last meeting, on May 12, that they would resign after the new government is formed, thus allowing the government to form its own asset management policy.

On a government decree and a mandate from the finance minister, NVT decided to lend the first tranche, HUF 2.16 billion, in April from a HUF 8.1 billion credit line approved by the government. The three-year credit line carries an annual rate of 9.97%.

The aim of the loan is to ensure sufficient funds for the airline in the short term, in line with Malév's bailout and restructuring plan. (MTI – Econews)