Hungarian Gov't Injects Reserves Into Malév Airlines
- 11 Oct 2010 1:00 AM
"The government provided Ft 5.3 billion in cash from the general reserves of the budget to raise the registered capital of state airline Malev last month, Nepszabadsag writes, citing a decree from the Official Gazette.
Minority owner Russian state bank Vnesheconombank did not participate in the capital increase, Nepszabadsag writes.
The state approved a Ft 14.7 billion capital raise and an additional Ft 5.7 billion loan to Malev at an EGM last month.
The state will convert the Ft 9.2 billion loan to Malev into equity. "
Source: Hungary Around the Clock.
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