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Hungary says Abramovich cannot sell stake in national airline

The privatization contract of Hungarian airline Malév prevents AirUnion owner Boris Abramovich from selling his indirect stake in Malév, spokesman Gábor Száraz of Hungary's National Asset Management Company (MNV) said.

Száraz said that Malév's privatization contract stipulates that the airline's direct owner, AirBridge, can only sell the Hungarian airline with MNV's approval. The state of Hungary has pre-purchase rights on AirBridge's more than 99%of all Malév shares for a period of five years, Száraz noted.

Russia's aviation authority has prohibited AirUnion from selling tickets for the winter season due to the airline's poor financial situation.

Abramovich earlier told the press that he has no intention to sell Malév, which AirBridge acquired in spring 2007. (MTI – Econews)