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21-Oct-2011 12:32 AM

Hungary’s Malev closes in on profitability

Analysis

Hungarian Government-owned flag carrier Malev has seen a significant improvement in its financial situation over the last several months as it looks to a potential re-privatisation in 2012.

Restructuring work began at Malev in Feb-2010, when the Government renationalised the highly unprofitable carrier, and as reported in June was approaching conclusion, with aims be back in the black in 2012. Malev chief commercial officer Otto Gergye told CAPA last week that Malev's financial performance has improved significantly over the last three months and "we're definitely on the right track".

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