Malev Pins Revival Hopes on Russian BankWorld | February 12, 2012, Sunday // 13:52| views
Hungary's Malev airlines that stopped flying last week expects a USD 120 M stabilizing credit from the Russian Vnesheconombank (Bank for Foreign Economic Activity).
If the Russian bank agrees to provide the credit, Malev could resume its flights from Budapest, ITAR-TASS informs. Vnesheconombank is currently a minority shareholder in the airline, owning 5% of its shares.
ITAR-TASS has cited sources stating that there have been difficulties in the negotiation process, with meetings expected to be held in Moscow and Budapest next week.
A Budapest court recently placed Malev under the control of a bankruptcy trustee, saying the airline could make payments only as essential to continue offering service.
Malev became the second European carrier to halt flights in a week. Spanair, based in Barcelona, collapsed on January 27, stranding 23,000 passengers.