OceansWorld
Topic Author
Posts: 828
Joined: Mon Mar 12, 2007 8:00 am

Malév 2007 Plan And 2006 Results

Thu May 31, 2007 2:47 am

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.
 
krisyyz
Posts: 1266
Joined: Thu Nov 25, 2004 11:04 pm

RE: Malév 2007 Plan And 2006 Results

Fri Jun 01, 2007 12:03 am

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
 
goldorak
Posts: 1363
Joined: Sat Sep 09, 2006 5:29 am

RE: Malév 2007 Plan And 2006 Results

Fri Jun 01, 2007 3:45 am

Quoting KrisYYZ (Reply 1):
Malev is doing well

 Confused Are we reading the same thing. They are announcing quite big financial losses
 
krisyyz
Posts: 1266
Joined: Thu Nov 25, 2004 11:04 pm

RE: Malév 2007 Plan And 2006 Results

Fri Jun 01, 2007 4:54 am

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

KrisYYZ
 
AF022
Posts: 1637
Joined: Fri Dec 26, 2003 10:41 pm

RE: Malév 2007 Plan And 2006 Results

Fri Jun 01, 2007 4:58 am

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
Topic Author
Posts: 828
Joined: Mon Mar 12, 2007 8:00 am

RE: Malév 2007 Plan And 2006 Results

Fri Jun 01, 2007 5:09 am

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...
Malev's First New 767-300ER (by TommyBP251b Mar 18 2007 in Civil Aviation)
 
krisyyz
Posts: 1266
Joined: Thu Nov 25, 2004 11:04 pm

RE: Malév 2007 Plan And 2006 Results

Fri Jun 01, 2007 5:10 am

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?

see here: RG (GOL) 12 X B763 And 9 X B737-800 (by Hardiwv May 28 2007 in Civil Aviation)

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.

KrisYYZ
 
PEET7G
Posts: 468
Joined: Wed Jan 31, 2007 10:00 pm

RE: Malév 2007 Plan And 2006 Results

Fri Jun 01, 2007 5:17 am

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.
Peet7G

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