Hungary's state airline Malev stopped flying after 66 years on Friday, citing bankruptcy, amid debts to creditors that include 100 million euros ($130 million) owed to VEB.
The decision was prompted by a European Commission demand that Malev pay back state aid it had received between 2007 and 2010, the airline said in a press release. The sum in question amounts to 38 million forints ($171 million), equivalent to Malev's entire annual revenues.
Two aircraft were reportedly impounded by creditors. One airliner did not receive permission for take off at Ben Gurion Airport in Israel. The second was detained in Dublin.
The decision was prompted by a European Commission demand that Malev pay back state aid it had received between 2007 and 2010, the airline said in a press release. The sum in question amounts to 38 million forints ($171 million), equivalent to Malev's entire annual revenues.
Two aircraft were reportedly impounded by creditors. One airliner did not receive permission for take off at Ben Gurion Airport in Israel. The second was detained in Dublin.