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Saturday, June 23, 2012
Willis Your Clean Up Crew When You Leave
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Friday, January 30, 2009
Russian Bank, Aeroflot to take over Malév following collapse of parent company: Realdeal.hu
0 commentsRussian Bank, Aeroflot to take over Malév following collapse of parent company: Realdeal.hu: "January 26, 2009, 8:54 CET Russian Bank, Aeroflot to take over Malév following collapse of parent company By MTI Russia's state-owned Vnesheconombank will take over Hungarian national airline Malev and operate the airline in partnership with Russia's Aeroflot, Hungary's Finance Minister Janos Veres announced at a press conference held jointly with Russia's First Deputy Prime Minister Viktor Zubkov on Saturday. Veres said that the Russian owner had agreed to keep Malev a national airline as well as its rights in European Union air traffic. Malev is owned by AirBridge, a company in which two Hungarians own the majority stake and Russian tycoon Boris Abramovich holds 49 percent. The Russian Vnesheconombank had guaranteed the financing of Malev's operation since its privatisation in 2007. Zubkov said the ownership change occurred due to the previous Russian owner's 'not very assertive management style' as well as the effects of the financial crisis. He added that Malev had a 'promising future'."
Pin It Now!Sunday, September 28, 2008
Malev in Trouble
0 commentsBudapest Airport worried about Malev Airline downsizing
| Wednesday, 24 September 2008 | |
| Budapest, September 24 (MTI) - Budapest Airport, the company that runs the city's Ferihegy International Airport, is worried about the downsizing of Hungarian Airlines Malev, as it generates the lion's share of traffic at the facility, wrote Wednesday's nationwide daily Nepszabadsag. Malev is owned by a company called AirBridge, which is part of a Russian consortium called Air Union. Financier Boris Abramovich, who has a 49 percent stake in AirBridge, has lost his majority hold in Air Union, which is being bailed out of a financial hole by a Russian government-owned corporation called Rostechnology. Rostechnology plans to expand the union, now including five airlines, by adding another five. No one is quite sure how Malev fits into the picture, but one-third of the company's 300 pilots received layoff notices on Monday, wrote Nepszabadsag. The pilots' union, Hunalpa, has charged management with dilettantism, claiming that multiple mistakes have been made, including termination of several long-haul flights. Hunalpa officials say that the company needs a well-capitalised investor, and tell of an unnamed Middle Eastern airline that is interested in Malev. Moscow analysts, however, say that Malev will not change hands. The contract with AirBridge prohibits a resale without the permission of the Hungarian government, but that is not the case for stocks in the company. Analyst Oleg Panteleyev of Aviaport acknowledged that a review of Abramovich activity was a theoretical possibility. Should the Abramovich brothers be found responsible for the Air Union's financial hole and required to pay compensation, AirBridge might become part of a compensatory package, said Panteleyev, adding, however, that he saw little practical chance of this, wrote Nepszabadsag. |


