Bloomberg News

Hungary Lends 5 Billion Forint to Airline Malev, Government Says

December 30, 2011

Dec. 30 (Bloomberg) -- Hungary will lend 5 billion forint ($21 million) to unprofitable state-owned airline Malev Zrt., according to a government decision signed by Prime Minister Viktor Orban and published in the official gazette yesterday.

The loan will be provided by MNV Zrt., the state asset management company, according to the document.

Hungary is talking with potential European investors about Malev after China’s Hainan Airlines withdrew from negotiations, Tamas Fellegi, who was then development minister, said Dec. 5.

--Editors: Alan Purkiss, Chris Peterson

-0- Dec/30/2011 10:07 GMT

-0- Dec/30/2011 10:11 GMT

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net -0- Dec/30/2011 10:04 GMT


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