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

AMA Drone Report

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday

Airborne-Thursday

Airborne-Friday

Airborne-Unmanned w/AUVSI

Airborne On ANN

AMA 08.10.17

Airborne 08.14.17

Airborne 08.15.17

Airborne 08.16.17

Airborne 08.17.17

Airborne 08.11.17

Airborne-Unmanned 08.15.17

Airborne-YouTube

AMA 08.10.17

Airborne 08.14.17

Airborne 08.15.17

Airborne 08.16.17

Airborne 08.17.17

Airborne 08.11.17

Airborne-Unmanned 08.15.17

NEW!!! 2017 AirVenture Innovation Preview -- YouTube Presentation / Vimeo Presentation

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

RFP: ANN Seeking New Site/Facility For Major Studio Upgrade

It's Official: Aggressive Upgrades For New Airborne Programs WILL Require New Digs It's been in development for years, but we're getting to a point where we think we can pull off s>[...]

AMA Drone Report 08.10.17: AMA Gov't Outreach, Nat'l Model Av Day, Lego Drones

Also: Volaero Tracks Pythons, Army v DJI, Snap Acquiring Drone?, Orlando Backs Down There’s no rest for the folks at AMA that deal with the politics that comes with flying ho>[...]

Airborne-Unmanned 08.15.17: Reno Drone Races, DoD CrackDown, Blue Angels v UAV?

Also: Kansas DOT-AirMap, CIRRUAS Drone Program, Daytona Beach PD UAS, Virginia UAS SAR The Reno Air Racing Association has signed an agreement with the MultiGP Drone Racing League >[...]

Airborne 08.15.17: Lycoming AD, Reno Drone Racing!, Santa Monica NIMBYs

Also: Icon A5 Accident, Aero-Calendar, Land Remote Sensing, Storm Aviation, Frontier, World Helicopter Day, Hubble The FAA has issued an Airworthiness Directive (AD) for the connec>[...]

Airborne 08.14.17: Concorde Return?, KSMO RWY Plans, DC Overflights

Also: San Mateo $$, Verhees Delta, Midwest Express, BizAv Activity, Cal Fire, AAR Ldg Gear, jetAVIVA The Concorde SST was retired in 2003 by British Airways and Air France after th>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC