Malév crisis management business plan approved
27-May-2009 |
Airline Code [MAH]
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Tags :Eastern Europe, Malev Hungarian Airlines
The Malév Board of Directors has approved this year's budget for the airline. The strategic decision makes the stable operation of the national carrier possible in the current difficult economic situation.
Chairman of the Board of Directors Anatoly Ballo, announced
"We have revised the business plan of 2009 and we support it. The plan includes important steps to offset the crisis that are sufficient to bring the airline into a stable operational position. We also confirmed that we want to keep Malév as a national Hungarian flag carrier. The Board requested the management to prepare a three-year business plan to enable Malév's positive financial performance"
Last month Vnesheconobank (VEB) provided a EUR20 million Euros loan facility to the company, which made it possible, for instance, to continue the regional fleet transformation programme. As a result, during the summer a total of four cost-efficient Q400 turboprops specialized for regional operations will operate in the Malév fleet, of which two are already in service.
(c) Centre for Asia Pacific Aviation. Date posted: 27-May-09 |
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Malév crisis management business plan approved 
