newstodate.aero
Dec 22, 2010 (newstodate): The EU Commission has cast its eyes on the Hungarian carrier Malev that was re-nationalized this autumn after a few years with partly Russian ownership.
The Commission has opened a formal investigation under EU state aid rules to examine a number of support measures, including several capital injections and shareholder loans, that the Hungarian authorities granted to Malev in the context of its privatisation and subsequent renationalisation.
In particular, the Commission has doubts that Malev would have been able to obtain financing from the market on the terms conceded by the Hungarian authorities.
After a preliminary investigation and considering the facts currently at its disposal, the Commission has doubts as to whether, given the difficult financial situation of Malev, the airline would have secured such financing on the market on the same terms or at all.
The Commission has opened a formal investigation under EU state aid rules to examine a number of support measures, including several capital injections and shareholder loans, that the Hungarian authorities granted to Malev in the context of its privatisation and subsequent renationalisation.
In particular, the Commission has doubts that Malev would have been able to obtain financing from the market on the terms conceded by the Hungarian authorities.
After a preliminary investigation and considering the facts currently at its disposal, the Commission has doubts as to whether, given the difficult financial situation of Malev, the airline would have secured such financing on the market on the same terms or at all.