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Malév losses even bigger than expected, says suitor

The losses of state-owned Hungarian airline Malév turn out to be even bigger than revealed at the start of privatization negotiations, according to the Hungarian representative of LAL Investiciuj Valdymas, the investment arm of Lithuanian airline LAL, one of two parties vying for the airline.

Dávid Keresztes told MTI Malév's losses exceed those noted at the start of privatisation negotiations. Keresztes said LAL Investiciuj Valdymas would inject €100 million into Malév, rationalize its activities, restructure the company and open up new markets to it in the region, if it buys the airline. He added that the capital injection would not be used to boost Malév's passenger numbers in the first years after its privatization, rather it would finance developments, strengthening Malév's position in the region and creating new jobs. (Mti-Eco)