The Jungarian government invited bids yesterday to sell 99.95% of the Budapest-based carrier, to be submitted by Nov. 3, for 7th time
The most recent attempt to sell Malév a year ago was canceled after the government failed to reach an agreement with Russia's KrasAir.
Malév suffers from competition of low-cost carriers like EasyJet Plc and Ryanair Holdings Plc since Hungary joined the European Union in 2004.
Hungary sold Budapest's Ferihegy Airport for £ 1.26 billion ($2.3 billion) to BAA Plc last December.
Malév Airline for sale for 7th time....
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Indeed 1.04 million dollars is not much, infact it's only 625,000 euro.
But the pruchaser has to take on a LOT of debt and will need to inject a lot of cash in airline before it can be profitable again.
http://www.playfuls.com/news_09_3702-Hu ... rtium.html
But the pruchaser has to take on a LOT of debt and will need to inject a lot of cash in airline before it can be profitable again.
http://www.playfuls.com/news_09_3702-Hu ... rtium.html