Hungarian national airline Malev appears to be on the brink of collapse yet again after the country’s government said it has accepted a European Commission (EC) ruling that the carrier has to repay illegal state aid. The commission ruled yesterday that financing granted to Malev between 2007 and 2010 “constitutes illegal state aid” and that “Malev would not have been able to obtain similar financing from the market on the terms conceded by the Hungarian authorities.” It also makes clear ...
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