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KrasAir to invest heavily in Malév if it wins

OAO KrasAir, which is bidding for the state airline through its local investment vehicle, would immediately invest USD 30-50 million in the carrier should it win, Napi Gazdaság reported, citing the owner of KrasAir.

KrasAir continues to raise its bid for Malév Zrt. since its first offer in late 2005, and plans to increase passenger numbers at Malév by about 10% over the next three years, Napi Gazdaság reported, citing an interview Boris Abramovich. The Russian company, which is competing with Lithuanian airline owner LAL Investiciju Valdymas for Malév, wouldn't cut jobs immediately after the purchase, Napi reported. Hungary is trying to sell a 99.95% stake in Malév for the seventh time. (Bloomberg)