Malév business plan 2007 projects increased traffic
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
One million Malév revenue passengers in under five months
Malév welcomed its one millionth revenue customer of the year travelling on a scheduled flight today, 21 May 2007, nine days earlier than last year.
Conclusion of Malév Privatisation Complete
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.