newstodate.aero
Jan 10, 2012 (newstodate): After completing its investigation, the EU Commission has ruled that Hungary did break the state-aid law by funding Malev.
Consequently, the Hungarian state must recover the subsidies provided between 2007 and 2010 to support the privatization of the airline.
-The Commission's investigation concluded that Malev, given its consistently difficult financial situation, would have been unable to secure such financing on the market on the terms conceded by Hungary, nor possibly any financing at all, says the statement from the Commission.
The Hungarian state is still seeking a strategic partner or an investor to secure the future of the carrier.
Consequently, the Hungarian state must recover the subsidies provided between 2007 and 2010 to support the privatization of the airline.
-The Commission's investigation concluded that Malev, given its consistently difficult financial situation, would have been unable to secure such financing on the market on the terms conceded by Hungary, nor possibly any financing at all, says the statement from the Commission.
The Hungarian state is still seeking a strategic partner or an investor to secure the future of the carrier.