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

AMA Drone Report-
Tuesday

Airborne Unlimited-
Wednesday

Airborne-Unmanned
w/AUVSI-Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne 10.23.17

AMA 10.19.17

Airborne 10.18.17

Airborne-Unmanned 10.17.17

Airborne 10.20.17

Airborne-YouTube

Airborne 10.23.17

AMA 10.19.17

Airborne 10.18.17

Airborne-Unmanned 10.17.17

Airborne 10.20.17

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

AMA Drone Report 10.19.17: Drone/Airliner Midair?, FAA Sued, CNN 107 Waiver

Also: Swedish Drone Ban Lifted, Rocky Mountain Hobby-Expo, Drone Shark Detection, Kittyhawk DJI Sync 2.0 Recent reports about a midair collision between a jet and a drone have been>[...]

Airborne-Unmanned 10.17.17: Eagles v Drones, DJI AeroScope, Drone Policy

Also: AeroVironment Award, Washington State Patrol, Altavian Nova UAS, Robotaxis The French Military is training four Golden Eagles to attack drones in flight as a way to defend ag>[...]

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>[...]

Airborne 10.20.17: Santa Monica Setback, Red Bull Aviatrix, C-49 Flies Again

Also: HondaJet World Tour, Barnstorming, SpaceX, Dauntless, Fixed-Wing VTOL, Gravitational-Waves, Swedish Drones The City of Santa Monica may now proceed with shortening the runway>[...]

Aero-News: Quote of the Day (10.23.17)

“The reality is space is becoming a common domain for human endeavor. There were different times in our history where this was predicted, but this is no longer just a predict>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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