{"id":265027,"date":"2012-02-03T15:13:27","date_gmt":"2012-02-03T15:13:27","guid":{"rendered":"http:\/\/new.moldova.org\/2012\/02\/03\/hungarys-malev-airline-collapsed-228172-eng\/"},"modified":"2012-02-03T15:13:27","modified_gmt":"2012-02-03T15:13:27","slug":"hungarys-malev-airline-collapsed-228172-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/hungarys-malev-airline-collapsed-228172-eng\/","title":{"rendered":"Hungary\u2019s Malev airline collapsed"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The Hungarian Airline Malev shut down its activity after huge financial loses. The airline has announced on its official website that as of today, no more flights will be operated.<\/p>\n

“Based on the Board of Directors’ decision Hungary’s National Airline ceased its operation to minimize its losses. According to this statement, after nearly 66 years of continuous operation, Malév aircrafts will not depart from 6 am 03 February,” informs the airline on its website.”<\/p>\n

The company tries to explain the cause of the collapse.<\/p>\n

“Unfortunately, the event occurred which we had a greatest fear of and we wanted to avoid with might and main. Although, until the latter days there were prospects to continue operation and the trust of our passengers is unbroken, our partners lost their trust due to the information published in the last days and they started to ask for payment of their services in advance. This speeded up the cash outflow and the situation of the airline became untenable. It is also known that the owner, despite the best intentions, is unable to provide additional financial resources to operate after the EU decision. Considering all these the Board decided to order the cease of operation of the Hungary’s National Airline. We apologize to all of our passengers,” announced CEO Loránt Limburger.<\/p>\n

Alexandra Teodosiu is one of the passengers affected by the bankruptcy of the airline.<\/p>\n

“I purchased a ticket from Budapest to Amsterdam with Malev Airlines on the 30th of December 2011. Since Malev Airlines went bankrupt and now is closed, I will do whatever it is possible to get a refund. According to EU regulations, the money has to be paid back, but I do not know when,” Ms. Teodosiu told Moldova.ORG.<\/p>\n

According to the airline, support can be offered to the passengers who purchased their tickets before Malev busted and “whose travel dates are on the suspension day or on the following three calendar days.”<\/p>\n

“In addition, to those who already travelled to their destination on the suspension day or before and posses valid return tickets on Malev flights on a date not later than 29th February 2012,” added the airline.<\/p>\n

The travel agencies haven’t been informed yet about the way they should pay back the money to the customers. The airline was founded in 1946 in Budapest and had been one of the main national airlines of Hungary.<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>The Hungarian Airline Malev shut down its activity after huge financial loses. The airline has announced on its official website that as of today, no more flights will be operated.<\/p>\n","protected":false},"author":3,"featured_media":265026,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-265027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The Hungarian Airline Malev shut down its activity after huge financial loses. The airline has announced on its official website that as of today, no more flights will be operated.<\/p>\n

“Based on the Board of Directors’ decision Hungary’s National Airline ceased its operation to minimize its losses. According to this statement, after nearly 66 years of continuous operation, Malév aircrafts will not depart from 6 am 03 February,” informs the airline on its website.”<\/p>\n

The company tries to explain the cause of the collapse.<\/p>\n

“Unfortunately, the event occurred which we had a greatest fear of and we wanted to avoid with might and main. Although, until the latter days there were prospects to continue operation and the trust of our passengers is unbroken, our partners lost their trust due to the information published in the last days and they started to ask for payment of their services in advance. This speeded up the cash outflow and the situation of the airline became untenable. It is also known that the owner, despite the best intentions, is unable to provide additional financial resources to operate after the EU decision. Considering all these the Board decided to order the cease of operation of the Hungary’s National Airline. We apologize to all of our passengers,” announced CEO Loránt Limburger.<\/p>\n

Alexandra Teodosiu is one of the passengers affected by the bankruptcy of the airline.<\/p>\n

“I purchased a ticket from Budapest to Amsterdam with Malev Airlines on the 30th of December 2011. Since Malev Airlines went bankrupt and now is closed, I will do whatever it is possible to get a refund. According to EU regulations, the money has to be paid back, but I do not know when,” Ms. Teodosiu told Moldova.ORG.<\/p>\n

According to the airline, support can be offered to the passengers who purchased their tickets before Malev busted and “whose travel dates are on the suspension day or on the following three calendar days.”<\/p>\n

“In addition, to those who already travelled to their destination on the suspension day or before and posses valid return tickets on Malev flights on a date not later than 29th February 2012,” added the airline.<\/p>\n

The travel agencies haven’t been informed yet about the way they should pay back the money to the customers. The airline was founded in 1946 in Budapest and had been one of the main national airlines of Hungary.<\/p>\n\n\n

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