Hungarian government reclaims struggling Malev

The Hungarian government reacquired control of its flag carrier, Malev Hungarian Airlines, spending HUF25.2 billion ($126.7 million) on a 95% stake that will see the airline return to state control after three years as a privately held company. The money-losing airline turned to the government for support last fall (ATWOnline, Nov. 11, 2009) in the face of losses that reached HUF10 billion in 2008 and were expected to narrow to HUF5-HUF7 billion last year (ATWOnline, Dec. 10, 2009). The ...