The once-profitable Malev subsidiary, which lost nearly 60% of its revenue after the national carrier went bankrupt, used the funds to pay off its debt to Budapest Airport, the daily was told. Without that, a liquidation procedure would have been launched.

The company cannot pay former employees, CEO Lorant Limburger told Nepszabadsag, but expressed hope that the state would raise capital in the Malev subsidiary.

As Malev Ground Handling still functions, former employees are not entitled to receive help from the National Wage Guarantee Fund, added the paper.

Source: Hungary Around the Clock

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