Cash support to Malev
Written by Fju at 03/09 2010, 13:18 - 0 comments
Malev had trouble paying International Lease Finance Corporation (ILFC) on time and an unnamed source says Malev had overdue debt to ILFC.
"Without the assistance, Malev's situation would have become almost completely unsustainable," the National Development Ministry says. The new loan also ensures that the airline remains viable.
"The February state action and the funds approved in April... have temporarily resolved liquidity problems," the ministry says. "However, changes are needed in the airline's operation and efficiency as this system is unsustainable in the long run."
