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Malev Tender Scrapped

Hungary canceled the sale of Malev Rt, the unprofitable national airline, after receiving only one bid. It was the fourth failed attempt to sell Malev since the fall of communism in 1989.

APV Rt, which sells state assets on behalf of the government, declared the bidding unsuccessful as the offer from Aviation Solution International didn't meet conditions for the sale, APV said in a statement.

OAO Aeroflot, Russia's largest airline, led the group, according to daily Nepszabadsag.

“The bidder didn't meet to a satisfactory extent the terms of the tender that was put out based on a government decree about Malev's privatization,” APV said.

(BBJ 19.xi.04)

 
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