During 2006, Malév recorded an operating loss of HUF 10.8 billion, HUF 3.7 billion more than the base year (2005). Financial items enhanced the balance by HUF 893 million while extraordinary items had the opposite effect to the tune of HUF 676 million, thus the company booked a pre-tax loss of HUF 10.5 billion in 2006.
HUF 10.8 billion = $ 57.8 million
HUF 3.7 billion = $ 19.8 million
The privatisation of Malév Zrt. was concluded today. The CEO of ÁPV Zrt., Hungarian Government’s representative exercising the rights of shareholder, handed over the Malév shares to AirBridge Zrt., the chosen privatisation bidder. The transaction, including the assumption of Malév Zrt’s loans, will be one of the largest privatisation transactions in Hungary this year. The full value of the investment by the new owner is some € 102 million, or HUF 26 billion. The arrangement under which the Hungarian national airline was privatised guarantees the preservation of state assets.
With the conclusion of the transaction, AirBridge became majority shareholder of Malév with full rights, and can commence implementation of the national airline’s new strategy.
KrisYYZ From Canada, joined Nov 2004, 1576 posts, RR: 0 Reply 1, posted (6 years 3 weeks ago) and read 1438 times:
Malev is doing well. I think Mr. Alexander Abramovich has big plans for MA but I doubt anything major is going to happen in the near future. I did read an interview where Mr. Abramovich mentioned that he wants to significantly expanding MA's long haul network, he added that it's too early to talk about fleet expansion. I foresee MA adding numerous eastern european/russian and asian routes as well as new charter ops. As for fleet, there was a buyer for one of the CRJ's, but that sale was blocked by MA's board of directors as MA was undergoing the final steps towards privatization at the time. LHA will be leaving soon, the 2nd B763 won't be added until mid 2008 and I don't see anything happening with the 737 fleet.
I just hope that there won't be any talks of merger with any of Airbridge zrt. russian counterpart airlines. I know that one of the sale conditions was that MA has to retain it's name and identity and present network.
KrisYYZ From Canada, joined Nov 2004, 1576 posts, RR: 0 Reply 3, posted (6 years 2 weeks 6 days 19 hours ago) and read 1295 times:
Quoting Goldorak (Reply 2): Are we reading the same thing. They are announcing quite big financial losses
True, but largest part of the loses can be contributed to factors beyond MA's control. Overall, pax revenue is up. Numerous airline are running in the red, but are continuing to improve. I stand by my statement, MA is doing well.
Total revenue on scheduled passenger operations in 2006 was HUF 107.9 billion, surpassing that of 2005 by 11%. Despite unfavourable market trends cargo activity performed at base level, partly as a result of growth in revenue, which outstripped the increase in traffic. Year-on-year costs climbed by 10%, resulting in a total outlay of HUF 136.6 billion. HUF 9.6 billion of the total cost increase of HUF 12.5 billion was as a result of factors outside the control of the company: the kerosene bill, which accounts for over 20% of total operating costs, increased expenditures by HUF 4.2 billion due to a considerable hike in world prices, while the weak forint exchange rate added HUF 5.4 billion to the costs side compared to the base year
AF022 From France, joined Dec 2003, 2092 posts, RR: 1 Reply 4, posted (6 years 2 weeks 6 days 19 hours ago) and read 1291 times:
What is going on with Malev's B762 fleet? I think I heard that one will be leaving the fleet soon - does anyone know where the aircraft is going? And the 2nd one? I guess it will stay in the fleet?
OceansWorld From , joined Dec 1969, posts, RR: Reply 5, posted (6 years 2 weeks 6 days 19 hours ago) and read 1274 times:
Quoting AF022 (Reply 4): What is going on with Malev's B762 fleet? I think I heard that one will be leaving the fleet soon - does anyone know where the aircraft is going? And the 2nd one? I guess it will stay in the fleet?
Well, according to the below thread, MA is to get one B763ER each year from 2007, and the first B762ER should leave the fleet once the second "new" aircraft has arrived. Unless anything has changed. Time will tell...
KrisYYZ From Canada, joined Nov 2004, 1576 posts, RR: 0 Reply 6, posted (6 years 2 weeks 6 days 19 hours ago) and read 1273 times:
Quoting AF022 (Reply 4): What is going on with Malev's B762 fleet? I think I heard that one will be leaving the fleet soon - does anyone know where the aircraft is going? And the 2nd one? I guess it will stay in the fleet?
HA-LHA will be the one leaving, the other B762, HA-LHB will stay in the fleet for now, at least until the other two B763 join the fleet. MA owns the B762s, I think the sale of LHA is in part financing the leasing agreement with ILFC for the 3 B763ERs.
PEET7G From Hungary, joined Jan 2007, 693 posts, RR: 0 Reply 7, posted (6 years 2 weeks 6 days 19 hours ago) and read 1257 times:
Quoting AF022 (Reply 4): What is going on with Malev's B762 fleet? I think I heard that one will be leaving the fleet soon - does anyone know where the aircraft is going? And the 2nd one? I guess it will stay in the fleet?
Well, the way things look HA-LHA is going to VARIG/GOL to start a new life there as PR-VAC. Eventually the plan is to have 3 763ERs into the fleet until 2009 and replace the 2 762ERs.
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From , joined Dec 1969, posts, 
From Canada, joined Nov 2004, 1576 posts, 
From France, joined Sep 2006, 1677 posts, 
Are we reading the same thing. They are announcing quite big financial losses
From Hungary, joined Jan 2007, 693 posts, 
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