newstodate.aero
Jan 28, 2009 (newstodate): The recent change of ownership in the Hungarian carrier Malev is followed closely by the EU Commission.
To qualify as an "EU carrier" with the rights and obligations pertaining to this status, a majority of the stake in a EU-based carrier must rest with EU nationals.
New owner of Malev is now Russia's state-owned investment and development bank, Vnesheconombank that has taken over the 99.95 percent stake formerly held by KrasAir that acquired the airline through a tender closed in February, 2007.
-As it seems that Malev is going through a restructuring that may effect also ownership and control, the Commision has requested information from the Hungarian authorities, says a source within the EU Commission's Directorate General for Energy and Transport.
-A minority share held by the Russian bank is not against EC law, and we understand that majority ownership would remain in the hands of EU nationals, he says.
The EU Commission expects a reply in February, 2009, after Malev's shareholders' meeting.
To qualify as an "EU carrier" with the rights and obligations pertaining to this status, a majority of the stake in a EU-based carrier must rest with EU nationals.
New owner of Malev is now Russia's state-owned investment and development bank, Vnesheconombank that has taken over the 99.95 percent stake formerly held by KrasAir that acquired the airline through a tender closed in February, 2007.
-As it seems that Malev is going through a restructuring that may effect also ownership and control, the Commision has requested information from the Hungarian authorities, says a source within the EU Commission's Directorate General for Energy and Transport.
-A minority share held by the Russian bank is not against EC law, and we understand that majority ownership would remain in the hands of EU nationals, he says.
The EU Commission expects a reply in February, 2009, after Malev's shareholders' meeting.