Over 7,000 Stranded When Malev Airlines Goes Under | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne 04.23.18

Airborne-UnManned 04.24.18

Airborne 04.25.18

AMA Drone Report 04.26.18

Airborne 04.27.18

Airborne-YouTube

Airborne 04.23.18

Airborne-UnManned 04.24.18

Airborne 04.25.18

AMA Drone Report 04.26.18

Airborne 04.27.18

Sat, Feb 04, 2012

Over 7,000 Stranded When Malev Airlines Goes Under

Second European Carrier In A Week To Suspend Operations

A second European airline has folded up its tent this week. Hungary-based Malev Airline grounded all its planes Friday, ending a reported 66 years of continuous service. Spain's Spanair entered bankruptcy proceedings and suspended operations last weekend.

USA Today reports that the airline was reportedly teetering on the edge of insolvency for some time, but was pushed over the edge when Tel Aviv airport required it to pay for its fuel and other services in advance. The gounding affected some 7,200 passengers with tickets or in transit.

On its website, Malev tells passengers "Concerning your travel, we suggest that you ask other airlines about their offers or, if possible, you choose an alternative method of transport," and outlines resources customers can take under Hungarian law.

Malev CEO Lorant Limburger said the effect snowballed, with more and more suppliers and partners asking for payments up front. "no company can honor payments months in advance," he said, according to the French news service AFP.

The news service reports that Malev's partners became "jittery" through the month of January as the EC had ordered the airline to repay state incentives it had received from 2007 to 2010. It would have amounted to about $171 million, or it's entire revenue from 2010.

But Hungarian Prime Minister Viktor Organ said he is hopeful the airline will be able to fly again. Despite the ongoing European debt crisis, "I believe a restart is not impossible," he said.

FMI: www.malev.com

Advertisement

More News

ANNouncement: Now Accepting Applications For Oshkosh 2018 Stringers!!!

An Amazing Experience Awaits The Chosen Few... E-I-C Note: There's very little we can say yet, but there is a reason why this may be THE year to throw in with ANN to cover the extr>[...]

AMA Drone Report 04.19.18: AMA Leadership, FAA Reauthorization, Coachella

Also: New French Regs, Drone Boot Camp, Public Safety Drone Standards, DroneShield Protects NASCAR It’s a little bit sad and yet a bit cool to see AMA make an exciting change>[...]

Airborne/Barnstorming 04.23.18: We Can Do So Much Better...

I'll Admit It... We're A Mite Frustrated, But We're ALSO Not Quitting... Ever Comments/Analysis/News/Video by ANN CEO/Editor-In-Chief, Jim Campbell We've accomplished so much over >[...]

Airborne-Unmanned 04.24.18: XPO 2018, Apple v Drones, Mosquito-Packed Drones

Also: Osage Nations Repurposes Airpark, UAV/Drone Certification, Leonardo's M-40 Target Drone, GA-ASI Flight Deck Taxi Only a few more days to go... THE major unmanned exposition o>[...]

Airborne 04.23.18: Hemisphere Suspended, Thunderbirds Fly, Apple v Drones

Also: New NASA Administrator, AD For CFM56-7B, Engine Display Upgrade On C-441, First BBJ MAX Textron Aviation has suspended work on the Citation Hemisphere large business jet, cit>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2018 Web Development & Design by Pauli Systems, LC