newstodate.aero
Dec 14, 2009 (newstodate): The Hungarian carrier may again come under state majority ownership.
The airline has accumulated a heavy debts pile of 70.5 mio euro with the Hungarian state, and by releasing the debts the state may regain ownership.
In 2007, the Russian consortium AirBridge emerged as the winner of Hungarian carrier Malev, with KraAir's owner as one of its main share holders.
With KrasAir's demise, as part of the fall of AiRUnion, the Russian stake was taken over by a Russian financial institution, but the carrier has since build up its debts with providers in Hungary.
The Hungarian state had made repeated efforts to privatise the national carrier that is now seemingly returning to majority state ownership.
The airline has accumulated a heavy debts pile of 70.5 mio euro with the Hungarian state, and by releasing the debts the state may regain ownership.
In 2007, the Russian consortium AirBridge emerged as the winner of Hungarian carrier Malev, with KraAir's owner as one of its main share holders.
With KrasAir's demise, as part of the fall of AiRUnion, the Russian stake was taken over by a Russian financial institution, but the carrier has since build up its debts with providers in Hungary.
The Hungarian state had made repeated efforts to privatise the national carrier that is now seemingly returning to majority state ownership.