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

Vueling Takeover Of Troubled Malev?

Sat Jan 28, 2012 2:57 pm

Hungarian media is reporting that Spanish low-cost carrier Vueling is in talks with the Hungarian government over a possible takeover of the troubled Hungarian national carrier. VY is just the latest in a series of foreign airlines that have expressed interest in MA. Prague-based Travel Services charter airline, as well as China's Hainan have had talks with the Hungarian government but with little success. In the past, the Hungarian Government has stated that MA will not become an LCC, however, I think that position will likely change has the options of rescuing MA from financial collapse are diminishing.

As most will recall, the EU recently ordered MA to repay all government loans.

VY will make their decision at next month's board meeting. If the deal is finalized, VY could take over MA before the summer timetable.


http://www.caboodle.hu/nc/news/news_...e/11/govt_commis/?cHash=ef6ea1b148

http://www.bbj.hu/business/iberia-lo...eyes-malev-nepszabadsag-says_62536

KrisYYZ
 
javibi
Posts: 1295
Joined: Sat Oct 02, 2004 5:55 pm

RE: Vueling Takeover Of Troubled Malev?

Sat Jan 28, 2012 3:13 pm

Vueling strongly denies that information, acording to Spanish media.

Cheers,

j
 
migair54
Posts: 2148
Joined: Thu Jun 14, 2007 4:24 am

RE: Vueling Takeover Of Troubled Malev?

Sat Jan 28, 2012 4:06 pm

I don´t see any logic to do that....

With the open skies Vueling can open a base there and they don´t need to get into so many problems..... they already have bases out of Spain.... so with not BUD it could be a nice move.... send there a few pilots and planes and try to do a nice job there...
 
SuperCaravelle
Posts: 261
Joined: Mon Jan 23, 2012 8:04 pm

RE: Vueling Takeover Of Troubled Malev?

Sat Jan 28, 2012 4:22 pm

I think at the moment Vueling is busy considering another target. At least, that would be more logical in my opinion.

Also, I doubt the current Hungarian government would be happy with this. They are in the process of nationalizing the country (a bit bluntly stated, but not untrue), this wouldn't be a step forward for them.
 
JU068
Posts: 2094
Joined: Thu Aug 20, 2009 8:23 am

RE: Vueling Takeover Of Troubled Malev?

Sat Jan 28, 2012 4:35 pm

Quoting migair54 (Reply 2):
With the open skies Vueling can open a base there and they don´t need to get into so many problems..... they already have bases out of Spain.... so with not BUD it could be a nice move.... send there a few pilots and planes and try to do a nice job there...

Hmmm I think that would not happen because they would then directly compete with Wizz Air. Plus, the Hungarian government wants an investor that will keep the Malév brand alive.

Plus, Vueling will have its hands full with filling the gap left by Spanair.
 
roberts87
Posts: 1091
Joined: Sat Dec 24, 2011 9:59 am

RE: Vueling Takeover Of Troubled Malev?

Sat Jan 28, 2012 10:07 pm

Isn't Vueling owned by IAG? It would make more sense for IAG to take over MA, a fellow Oneworld member. It would help strenghten Oneworls position in Eastern Europe.
 
Viscount724
Posts: 19046
Joined: Thu Oct 12, 2006 7:32 pm

RE: Vueling Takeover Of Troubled Malev?

Sat Jan 28, 2012 10:22 pm

Quoting roberts87 (Reply 5):
sn't Vueling owned by IAG?

Only a minority interest. IB owns 46% of Vueling shares and 4 of the 11 members of the board of directors are from IB.
 
realsim
Posts: 514
Joined: Wed Apr 07, 2010 11:19 pm

RE: Vueling Takeover Of Troubled Malev?

Sat Jan 28, 2012 10:22 pm

Vueling has said that the rumour is "radically false". Source (in Spanish): http://www.expansion.com/agencia/efe/2012/01/27/16909541.html

Quoting roberts87 (Reply 5):
Isn't Vueling owned by IAG? It would make more sense for IAG to take over MA, a fellow Oneworld member. It would help strenghten Oneworls position in Eastern Europe.

Iberia has a 45% stake or so in Vueling.