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Malev On The Verge Of Bankruptcy  
User currently offlineKrisYYZ From Canada, joined Nov 2004, 1593 posts, RR: 0
Posted (6 years 1 week 4 days 6 hours ago) and read 16481 times:

Several news reports are indicating serious trouble at Malev. Due to labour and financial problems, the national carrier may be close to declaring bankruptcy.

http://www.budapesttimes.hu/content/view/9989/219/



Malev has been the national carrier of Hungary for over 62 years. The airline maintained a state of steady growth while the Hungarian Government owned it by adding new destinations and expanding the fleet year after year. In March of 2007, Malev was sold to AirBridge Zrt., a Hungarian holdings company owned by Boris
Abramovich of KrasAir. The new owners wanted to secure profitability at all costs which they did by cutting the airline and its workforce in half within a year. The Russian owners promised to inject millions of Euros into Malev and work towards further growth. Soon after the serge of oil prices, Malev cancelled its long-haul ops, started to lay off staff and put its plans of expansion towards the east on hold.

MA is facing several major issues. The airline is swimming in debt, owning the most to BA the operators of BUD. Major labour issues with the pilots who held a APA supported demonstration this past Friday in front of the airlines head offices. The airlines first of 4 leased Q400 was scheduled to start ops 2 weeks ago but it’s sitting at CPH. Management claimed that high fuel prices were to blame for the cancellation of long-haul ops, however prices have recently dropped which made employees question the hard-hitting decision causing further tension between MA and its staff. Finally perhaps the biggest problem facing Malev, its cash strapped owners who also own KrasAir. KrasAir is an airline facing also bankruptcy. They were recently forced to cancel flight due to lack of finances to pay for fuel. A bleak outlook for Malev, either the airline will go into bankruptcy and be resurrected into a viable airline or it will be swallowed by one of Europe major airlines.

KrisYYZ

36 replies: All unread, showing first 25:
 
User currently offlineSlz396 From , joined Dec 1969, posts, RR:
Reply 1, posted (6 years 1 week 4 days 4 hours ago) and read 16240 times:



Quoting KrisYYZ (Thread starter):
A bleak outlook for Malev, either the airline will go into bankruptcy and be resurrected into a viable airline or it will be swallowed by one of Europe major airlines.

Given MA's failed attempts to find a better investor than KrasAir in the past and the fact they have even less to offer today than back then (i.e. no more long haul, no longer a pretty dense regional network, seriously worsened financial ballance sheet) I fail to see what they could still bring to the negotiating table? I thus seriously doubt any major airline would still be interested in taking them over. They have nothing interesting to offer anymore and BUD is not slot restricted at all (and that's an understatement even), so far better wait for them to go under and then take its place with something new for free....

In my view, the only minor chance for rescue lays with BA now.
If the alarm bells have finally started ringing in London over the massive K.O. punch they are about to be given by the LH group of airlines (LH/LX/SN/BD/OS), MA might be swallowed up by them. It could then finally take on the role as OneWorld's sole Central European airline, thus providing good connections to secondary European destinations which do not any see any other OneWorld traffic but that of BA through LHR (an airport which is located far too much out to the West for tranferring at to anybody but those coming from the US).

Otherwise, Malev will go the way of Balkan....


User currently offlineBrightCedars From Belgium, joined Nov 2004, 1289 posts, RR: 2
Reply 2, posted (6 years 1 week 4 days 2 hours ago) and read 16085 times:

Why is it that there is talk of bankruptcy with every airline we book in advance for the holidays when the actual time of the holidays arrives? We've booked with MA for this Xmas and for Easter, I hope they honor their contract. What do we have to do next? Pay horrendous prices or rent a plane when we need one?


I want the European Union flag on airliners.net!
User currently offlineSAAB900 From United Kingdom, joined Sep 2007, 490 posts, RR: 0
Reply 3, posted (6 years 1 week 3 days 22 hours ago) and read 15722 times:



Quoting BrightCedars (Reply 2):

Brightcedars you have my sympathy! I'm in the same situation as you are! My fiancee and myself are booked on SkyEurope as she is going back home for Xmas. But with all the rumors about their state of health we're holding our breath as well!!

Dave(SAAB900)


User currently offlineSlz396 From , joined Dec 1969, posts, RR:
Reply 4, posted (6 years 1 week 3 days 22 hours ago) and read 15619 times:



Quoting BrightCedars (Reply 2):
What do we have to do next?

If you book long in advance (which in today's climate means more than a week at best), better book with an airline which you know to be solid and profitable: LH (and any of their recently bought subsidiaries), AF/KL, BA etc....

Why would you risk flying Malev, when you can be 100% sure of your flight through booking at a more solid airline? Because it is a couple euro cheaper???

See the premium paid as some sort of insurance, a guarantee the airline of your choice will still exist by the time you are set to fly them. If Malev goes bust, you'll be loosing a lot more than whatever price difference you managed to find and on top of that, you'll have to fork out a lot of extra money to get a ticket with one of their competitors on such a short notice!

Quoting BrightCedars (Reply 2):
Pay horrendous prices or rent a plane when we need one?

Those horrendous prices like you call them may actually reflex the real price of flying these days...


User currently offlineTIA From Albania, joined Mar 2006, 524 posts, RR: 2
Reply 5, posted (6 years 1 week 3 days 19 hours ago) and read 14928 times:



Quoting Slz396 (Reply 1):

Otherwise, Malev will go the way of Balkan....

Ironically, MA and Balkan were the first airlines I flew. The old LX and SR were my third and fourth. If this trend continues, SK is next.  Wink


User currently offlineR2rho From Germany, joined Feb 2007, 2744 posts, RR: 1
Reply 6, posted (6 years 1 week 3 days 16 hours ago) and read 13868 times:

Malev is the last (well, the only) thing OW has got in central Europe. After LH's shopping spree, if MA goes down, nothing else remains for OW in this region.

User currently offlineTommyBP251b From Germany, joined Apr 2006, 460 posts, RR: 0
Reply 7, posted (6 years 1 week 3 days 16 hours ago) and read 13841 times:



Quoting KrisYYZ (Thread starter):

Saw it on the news yesterday!

So back to the topic!

What will be the reality?

1. In case of a collapse, would the hunagarian state inject money?
2. What would it mean for BUD, Hungary and Europe, if there is no MALEV anymore?
3. Will we see a new airline?
4. Why wasn't it bought up by anybody else than the Russians?

Best Regards

Tom



Tom from Cologne
User currently offlineKukkudrill From Malta, joined Dec 2004, 1123 posts, RR: 4
Reply 8, posted (6 years 1 week 3 days 16 hours ago) and read 13802 times:



Quoting TommyBP251b (Reply 7):
1. In case of a collapse, would the hunagarian state inject money?

Would breach EU state aid rules and cause trouble with the EU Commission.



Make the most of the available light ... a lesson of photography that applies to life
User currently offlineBlooBirdie From Lesotho, joined Sep 2003, 261 posts, RR: 0
Reply 9, posted (6 years 1 week 3 days 16 hours ago) and read 13652 times:



Quoting Kukkudrill (Reply 8):
Would breach EU state aid rules and cause trouble with the EU Commission.

Yes, only allowed if you're Alitalia or Olympic.  stirthepot 


User currently offlinePylon101 From Russia, joined Feb 2008, 1608 posts, RR: 0
Reply 10, posted (6 years 1 week 3 days 15 hours ago) and read 13430 times:

Yeh, KrasAir proved to be a bad choice. Never liked them.
And the whole Air Union sucked big time.

Malev is a legacy airline. And it would be bad if it disappears.

Well, if our Hungarian friends find no other option to save brand - let them negotiate with RosAero - which inherited all Air Union + some other airlines.
It's supported by Moscow government (Atlant-Soyuz). And has cash at this terrible time.
Legally - at least in part - they should acknowledge obligations written in contracts.

I still believe that Malev is a good asset. But hardly LH or other monster would care.
If saving the brand is a priority - negotiation with RosAero would be a try worth to make.


User currently offlineAirbusA6 From United Kingdom, joined Apr 2005, 2025 posts, RR: 0
Reply 11, posted (6 years 1 week 3 days 14 hours ago) and read 12940 times:



Quoting Pylon101 (Reply 10):
I still believe that Malev is a good asset. But hardly LH or other monster would care.

A European airline LH isn't interested in! Things must be bad...

Seriously, OW will be left with a massive hole in it's European network without MA, though a struggling MA is hardly that great an asset either...



it's the bus to stansted (now renamed national express a4 to ruin my username)
User currently offlineLAXintl From United States of America, joined May 2000, 26026 posts, RR: 50
Reply 12, posted (6 years 1 week 3 days 13 hours ago) and read 12701 times:

Guys, lets get realistic now.

Does the world or market really need Malev? Sure its a nostalgic symbol for many, but so are most things in history.

Europe, and its air transportation market would not even realize if Malev was gone. For Hungary it already obviously has open skies intra EC and pretty liberal agreements with most countries outside so any demand will be appropriately backfilled by LCCs, or other carriers.

Long gone should be the days when every country must maintain its own national airline.



From the desert to the sea, to all of Southern California
User currently offlineKrisYYZ From Canada, joined Nov 2004, 1593 posts, RR: 0
Reply 13, posted (6 years 1 week 3 days 10 hours ago) and read 12009 times:



Quoting TommyBP251b (Reply 7):
What will be the reality?

1. In case of a collapse, would the hunagarian state inject money?
2. What would it mean for BUD, Hungary and Europe, if there is no MALEV anymore?
3. Will we see a new airline?
4. Why wasn't it bought up by anybody else than the Russians?

Hey!!

Here is my opinion in regards to the good questions you posed,

1. I highly doubt the the Hungarian Government would be interested in a bail out for 2 reasons. First, their would be a significant backlash at the present Hungarian government, they are the ones who sold MA to a unsteady buyer (KrasAir) just a few years ago. Second, where would the money come from? Hungary just received a massive bailout for the IMF, spending millions of Euros to save MA would be frowned upon by the EU and IMF.


2. BA, the operators of BUD have let MA debt slide for as long as they could. But if MA doesn't pay up soon, MA's flights will not be refuelled at BUD. However, if MA stops flying at goes bankrupt the airport will have to dramatically scale back operations and most importantly the massive expansion program currently underway at BUD.


3. I'm not sure if Hungary really needs a "national airline" at the moment. The demand for air travel in Hungary has steady declined over the past year and more and more Hungarians are choosing LCCs.

4. AFAIK, There were 3 major bids. KrasAir, a Canadian Holdings company and a Hungarian Holdings company made up of former MA employees and backed by private investors. IMO, politics played a major role in the final decision. KrasAir offered the most money, supposedly, and boasted a plan of major expansion for MA towards the east and Asia to the Hungarian government. I do know that Putin brought up the subject when he and the Hungarian PM met prior to the sale being finalized.

As I'm sure you remember the EU voiced some serious opposition to the sale of MA to KrasAir.



Quoting Pylon101 (Reply 10):
Yeh, KrasAir proved to be a bad choice. Never liked them.
And the whole Air Union sucked big time.

Malev is a legacy airline. And it would be bad if it disappears.

Well, if our Hungarian friends find no other option to save brand - let them negotiate with RosAero - which inherited all Air Union + some other airlines.
It's supported by Moscow government (Atlant-Soyuz). And has cash at this terrible time.
Legally - at least in part - they should acknowledge obligations written in contracts

I agree completely. I hope that the Russian government will help in the rescue of AirUnion and in turn rescue MA's financial backers.


MA is not needed nor would it be really missed by anyone outside of Hungary. AF-KL, LH and BA would simply take up their share of the Hungarian market. But it would serve a deep blow to Hungary's pride as MA has always been a good ambassador for the Hungarian Aviation industry and history.

KrisYYZ


User currently offlineConnector4you From Canada, joined May 2001, 933 posts, RR: 2
Reply 14, posted (6 years 1 week 3 days 9 hours ago) and read 11958 times:



Quoting Slz396 (Reply 1):
In my view, the only minor chance for rescue lays with BA now

I would say that it's too late for a rescue plan coming from BA and pretty much useless since LH have now a firm and almost exclusive grasp of that region trough its subsidiaries.

A small piece of that very same pie in Central-Eastern Europe it's held by SkyTeam trough CSA and Tarom, but...barely. Delta's year around presence in Budapest and only summer seasonal in Bucharest keeps SkyTeam's nose above the water for now.

While Star Alliance carriers keeps all LCC at bay trough out an extensive and expansive network coupled with reasonable pricing (we are taking here about Eastern Europe's and its lower average income per capita!), SkyTeam and Oneworld continues to remain insensitive on that very issue. That unbendable price policy took a bite at the lowest food chain-link of the alliance, in this case Malev. Hungary's economic outlook won't help either.

Guess who’s next.


User currently offlineWildcatYXU From Canada, joined May 2006, 2644 posts, RR: 5
Reply 15, posted (6 years 1 week 3 days 9 hours ago) and read 11890 times:



Quoting KrisYYZ (Reply 13):

MA is not needed nor would it be really missed by anyone outside of Hungary.

Here's one person who's missig MA. While I flew with them only once (not bad experience at all), I've used MA several times for members of my family. BUD is quite well accessible for my relatives in Slovakia, they speak the language, etc... I simply have no replacement for MA.


User currently offlineCaymanair From Cayman Islands, joined Apr 2004, 856 posts, RR: 0
Reply 16, posted (6 years 1 week 3 days 7 hours ago) and read 11542 times:

I would hate to see Malev go, but there are several factors which make it seem unlikely that anyone will step in to save it. The company wouldn't be a valuable purchase for any other European major. It would have been several years ago when it had a larger market share out of BUD, significantly less competition, less debt, a larger network, and far fewer competitors. The current owners have just let it slide to the point where an investor has no incentive to purchase Malev.

The government has justification to bail the carrier out and no money to do so. Malev doesnt serve any vital underserved/ otherwise unserved routes, it is not the massive employer it once was, and it is no longer responsible for the lions share of air passengers/ cargo to and from Budapest. It's loss will hardly be missed and what little fallout in capacity we see due to Malev shutting down will be picked up by the majors. LH and its underlings, Wizz Air, and Easyjet will pobably do most of the growing.

As a note, if Malev goes under Wizzair will be the biggest airline at BUD.


User currently offlineBrightCedars From Belgium, joined Nov 2004, 1289 posts, RR: 2
Reply 17, posted (6 years 1 week 3 days 4 hours ago) and read 11171 times:

I for sure would miss Malev has I have really fond memories with them starting a decade ago.

On my shuttle to Beirut, they were always a rather nice option in terms of equipment, food and service. I've booked them for the Xmas holidays and I'm not too worried yet, but as far as our booking for Easter goes, I'm a little more concerned.

They have engaged in a dramatic scale down program but surely the times are not helping.

I do truly hope they will make it, be it with their current shareholder or with a new one. They are a carrier with a proud history and it would be dramatic to see them go down the drain.



I want the European Union flag on airliners.net!
User currently offlinePEET7G From Hungary, joined Jan 2007, 695 posts, RR: 0
Reply 18, posted (6 years 1 week 3 days 2 hours ago) and read 11004 times:

I have to admit it is no surprise, and unfortunately no news to me... this transition of MALEV into the pockets of Russian "investors" was a cheat from day one, and anyone having a little insight into MALEV's operations, Hungarian politics or ties between our government new it from the start  Sad

...However I love the way people possibly never ever even visiting the region make "expert" assessment of the situation. The reality is much more complex and sad. The truth is that all this is the outcome of a very shady and corrupt privatization process.

point 1: Malev was intended to be played into the hands of Russians, (better called "Putin's pals" as most Russians I find honest and really good people) from day one. It was clear from the days when "unexpected state visits" by Mr.Putin took place, and every time this Abramovich kid was in the back, making numerous "closed-door" talks with our prime minister, with the assistance of Mr.Putin. Unfortunately every one of us, with even a little insight into who he was, knew it from day one, that what he is here for. His attempts where blocked 2 times and do not be mistaken... MALEV was not a bad buy, nor was it lack of interest... It was the privatization process that was twisted and bent the way, that in the end only Airbridge Zrt. could come out as a winner. Chopping down financial data, by playing out "money making" branches into separate identities, a little playing with lease fees and aircraft values and things like that made MALEV look like being in an even worse shape than in reality, so it will be more acceptable to the public, that old friends of our corrupt PM will come and look like saving the airline.

point 2: Everyone seem to forget the "low profile" part of the deal: ACE Aeroplex of Central Europe. The money making and highly respected maintenance company owned by MALEV, but being separated by books. The real target of Mr.Abramovich and the company that was never mentioned nor advertised, that it is a "part of the deal". Abramovich made a good deal with it and no one mentions the spool of EI- registered, but Russian airlines operated planes visiting the base for maintenance, and the plan of moving ACE to Russia first by opening a maintenance base there, then by shutting or downgrading the BUD base as it is.

point 3: now, almost a year of operating under the new owners, we can see that NON of the promises are kept, some are even more disturbing as they where contractually laid down in the privatization process... not a single penny of investment came (other than the minimum), the promised expansion of LH operations never materialized, in fact they even shut down those that existed. (Interesting, how quickly the 763 found new home with S7 )
The fact is, that it is like they do not care, it is like a time freeze at MALEV. A very obvious thing is their website that I refer to many times. Just take a look at it! No one has touched or maintained it for ages, and since the privatization, it is not even maintained. Just like as if they do not care at all...why? Because MA was not the primary target of this privatization people, but the Maintenance company, the assets that came with it and the licenses...
point 4: Answering some of the remarks above:
About the viability of MA:
-Have you guys even taken the time to look at the map? BUD is the last modern airport offering good connections from Vienna down until the Black Sea (east-west direction), and from WAW down to ATH (north-south direction). In a region that is the focus of EU development for the next decades and EU expansion (Croatia comes to mind). Not to mention the vast number of Hungarian ethnics living in neighboring countries.

-Hungary is one of the strongest economies in the region, with one of the highest educated workforce in the EU (yes, not just the region) with average salaries being one of the lowest in the EU. I can go on for days, how in this recession period Multinational companies downgrade their operations and how companies like EDS (HP now) are closing their operations in "costly" places like Germany, Switzerland or even Poland while maintaining, or in this case expanding operations here.
I love when people take numbers, and yap about the low figures it produced in the last year, YES we are in a deep trouble as a country, and politics and politicians are a shame on us, but as an economy and private sector Hungary is in pretty good shape. You could come with figures on economic growth... my favorite was one, when a member here brought up numbers from Romania and Bulgaria and compared to Hungary's... I do not want to hurt their feelings, as I love both countries, and find the people there really good and wonderful people...but...let me make an example... if you toss a penny in Somalia, you almost double their economic growth, does that make Somalia a stronger economy than for example Germany? I hope you get the idea...and, yes this is an exaggeration, but I hope you get the picture.

- As for BUD airport, I did mention there is nothing compared to it infrastructuraly. Life almost stops at WAW, PRG, VIE, ATH. If you look at the map and form a letter C with these airports you will see the black whole BUD is filling in.
And do not forget, that BUD has got rid of BAA's vampire style operation. The new owner is Hochtief, and currently BUD is undergoing a total reconstruction process that includes a completely new terminal building, cargo center, update of runways, new commercial center, etc... visit the website of BUD Future fantasy named project.
And one important thing is that they are not only talking about it! The constructions are under way, and the new terminal will be ready by next year (according to plans)

-As for MA as a brand, It is still a very strong brand, well known in the region and highly respected. Is it viable, or any addition to a mayor player? Well If it goes down OW will have a total black hole in the region that is seeing / going to see the biggest growth and development in the EU. It would now be almost the only answer that BA can make to keep its position or to keep up with LH's or AF-KL's expansion. However I almost have no hope with BA, as they seem to care about nothing but Heathrow. I can even envisage a future, where MA will be left to fail and something new will arise out of the ruins, but I certainly cannot see BUD disappear as a regional connections center...

-On the other hand, please do not over exaggerate. Feel safe booking on MA flights, as the situation is not as bad... Your flights for Christmas or even Easter are safe for sure.
You also have to understand how Hungarian media works. Perhaps stronger than anywhere else, you always have to know if you are reading leftist or rightist media. Here rightist media always looks at things as if it was the end of the world (opposition) and leftist media praises everything that has to do anything with the government  Sad So the truth is somewhere in the center.
In reality passenger figures, load factors are excellent. The MA crew is far out of their way to bring excellent service, they are professionals and proud about their brand. All these warnings, small strikes or anything is only because they are fed up with irrational cutbacks, dropping of service levels that they have to present to their passengers, and with all the unkept promises Mr. Abramovich's team made when they took over MA.

One can only pray that when the Abramovich gang finishes the raping of MA, they can find a true investor with a clear and maintainable plan and they can get rid of these gangsters forever. However in the mean time their best and most obvious choice will be BA, but I have little hope for them…they just don’t seem to get the picture and they seem to be playing safe rather than being innovative… of course I cannot blame them for that either in this economical climate  Sad

I know it is a far cry, but how about a middle-eastern carrier seeking ways to put their feet in the EU market? Or maybe CX to not be so dependent on a LHR gateway?
 duck 



Peet7G
User currently offlinePylon101 From Russia, joined Feb 2008, 1608 posts, RR: 0
Reply 19, posted (6 years 1 week 2 days 21 hours ago) and read 10620 times:

Well, I agree that Abramovich of Krasaero (do not mix up with Roman Abramovich: they are not related!) might have all these covered operations in mind while signing the deal.

But we should admit that the environment in which the whole industry works worsened significantly.
So the idea which looked reasonable - to use Malev network in order to enter EU market - it simply did not work.
That is what Krasaero officials say.



Quoting PEET7G (Reply 18):
Interesting, how quickly the 763 found new home with S7

This is slip of the tongue, right?
S7 doesn't have anything to do with the deal.


User currently offlinePEET7G From Hungary, joined Jan 2007, 695 posts, RR: 0
Reply 20, posted (6 years 1 week 1 day 22 hours ago) and read 10031 times:



Quoting Pylon101 (Reply 19):
do not mix up with Roman Abramovich: they are not related!

Unfortunatley you are right, they are not even related  Yeah sure

Quoting Pylon101 (Reply 19):
But we should admit that the environment in which the whole industry works worsened significantly.
So the idea which looked reasonable - to use Malev network in order to enter EU market - it simply did not work.
That is what Krasaero officials say.

Of course that is the "official" point, and I agree with you that the climate has changed, but as I said, the problem is that they didn't even make an effort... restructuring the schedule, fixing, and updating the website (going after the customers), etc. would have been "relatively" cheap, but important efforts... time simply froze as they took over. And one more thing: interesting is that all this news of "restructuring” and investing into regional network, even the news of the DASH8's arise every time, when the opposition starts questioning the government and Mr.Abramovich to stick to the deal that was in the privatization agreement and finally start investing the money promised...then things die down.

...did you guys know that the privatization documents between the government and Airbridge Zrt. are classified for 70 years? Anyone want to guess why?  Yeah sure

This is slip of the tongue, right?
S7 doesn't have anything to do with the deal.

MA's 763 HA-LHC, that was supposed to be joined by 2 more of the type was almost earlier in S7 livery than the shutting down of LH flights  Sad

...of course I am not blaming S7 for striking a good deal  alert 



Peet7G
User currently offlineDelta777Jet From Germany, joined Jun 2000, 1297 posts, RR: 3
Reply 21, posted (6 years 1 week 1 day 21 hours ago) and read 9895 times:

There were many parties in the race at the Malev privatization. I remember that Malev owned some two or three 767-200 aircraft. What happened to these ? I remember that some CRJ's were financed with high book values outstanding, whats new there ? I have the feeling that the investors took some of Malev liquidity and now soon there is no money left.


Fly easyJet
User currently offlinePylon101 From Russia, joined Feb 2008, 1608 posts, RR: 0
Reply 22, posted (6 years 1 week 1 day 20 hours ago) and read 9877 times:

Classified for 70 years??? Amazing. And outrageous.
What could be possibly there?

The idea was brilliant and fresh. Air Union included a group of airlines some of which were from heavily populated areas. Like Samara - a region with population over 5 millions.

They wanted to avoid money draining Moscow Center and fly to BUD from Siberia, Ural, Volga region - those are millions of potential customers. Tourists, business people, etc.

To fly directly to BUD - and from there throughout EU - and probably furhter - on Malev and Air Union aircraft.

BUD is uniquely positioned - as you rightly mentioned - for transit purposes.

Actually the interest of SU to AZ was based on the same idea.

What made it going wrong? We will hardly learn for years.
It's not a relief for you - but all those in Air Union would be beyond bancruptcy point unless swallowed by RosAero. Many lost jobs. Domodedovo Airlines is practically grounded. They didn't even sign deals with tourist operators for the winter season.

Still, the idea is right. And someone at some point will realize it and make big buck, I guess.


User currently offlineKrisYYZ From Canada, joined Nov 2004, 1593 posts, RR: 0
Reply 23, posted (6 years 1 week 1 day 10 hours ago) and read 9551 times:



Quoting PEET7G (Reply 20):
Unfortunatley you are right, they are not even related

LOL, very unfortunate!! If MA was sold to the "right" Ambrovich family it wouldn't be facing the mess it currently is.

Quoting PEET7G (Reply 20):
...did you guys know that the privatization documents between the government and Airbridge Zrt. are classified for 70 years? Anyone want to guess why?

WOW! I had no idea that the cover-up, because that's what this is, was so extensive. How can you classify the documents pertaining to a sale of a public asset??



Quoting PEET7G (Reply 20):
even the news of the DASH8's arise every time

What is going on with the Q400s? MA should have had 2 aircraft by now as the first one was suppose to commence service with the winter schedule.

A part of me says just let MA die and let it be rebuilt by reputable backers and investors. But would be rebuilt in this economical climate?

Quoting Delta777Jet (Reply 21):
I remember that Malev owned some two or three 767-200 aircraft. What happened to these ? I remember that some CRJ's were financed with high book values outstanding, whats new there ?

MA had 2 B762s. One went to RG and the other is out of service and was sitting at BUD the waiting for a new owner, AFAIK. All of the CRJs are gone, some went to QI and NovaAir and one is stored at DNB.

MA was suppose to wet lease all 5 of its B738s for the winter but I've also herd that instead, MA is returning 2 B738s, 2 B736s and 2 B73Gs to ILFC. Any news on this?

KrisYYZ


User currently offlineAF022 From France, joined Dec 2003, 2171 posts, RR: 1
Reply 24, posted (6 years 1 week 1 day 8 hours ago) and read 9480 times:



Quoting KrisYYZ (Reply 23):
MA had 2 B762s. One went to RG and the other is out of service and was sitting at BUD the waiting for a new owner, AFAIK. All of the CRJs are gone, some went to QI and NovaAir and one is stored at DNB.

Is there a new owner for the 767 in BUD, or is it looking for an owner?


25 Abrelosojos : = I can understand your nostalgia for your national airline, and I have heard your hatred towards the Russian investors several times over on the boa
26 PEET7G : Please, Abrelosojos...stop coming after me and keep twisting my words. Of course I have special emotions towards MALEV, but it is far from being a si
27 B777LRF : Yes, it's a long and ungainly shape the Q400. And to think of the many wonderful aeroplanes associated with the name De Havilland, the hallowed origin
28 EUROBUS : Surely all key factors are analyzed prior to being admitted into a global team like oneworld! Yes, there has been a lot of changes to the global econo
29 AIR MALTA : These can be easily be reached using OS or TK. So do not worry about that.
30 VV701 : BA (British Airways) has never ever owned any part of Budapest Airport. But: BAA (formerly British Airports Authority and now owned by the Spanish co
31 PEET7G : I can not agree more... believe me, I am the last to cheer the return of props into the fleet, and my heart is braking for the F70s leaving, but I ha
32 Veeseeten : Is it possible that BA will jump in once the BA/IB/AA deal goes though - not least because they have enough on their plate at the moment, but also to
33 Viscount724 : I have had some very enjoyable flights on the Q400 (and many other turboprops starting with the Vickers Viscount). In my opinion, the Q400 (and all o
34 EUROBUS : And you have more time for the coffee and biscuits!
35 Post contains links PEET7G : Sorry for my post being deleted, I forgot it is not allowed to post photos from the "dark side" ...but it is now in the news release: Click here And o
36 MrComet : I stopped flying Malev because its service went to hell after the Russian organized crime figures bought it. They squandered a good opportunity becaus
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