June 17th, 2008
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Hungarian airlines Malév back in the black

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After many years of losses, Malév reported a Ft 703 million (€2.8 million) profit in 2007, the Hungarian airline announced. Profit from core activities increased by 44%, or Ft 7 billion, buoyed by a Ft 9 billion decline in material costs, while maintaining flight performance. Due to one-off items, such as the amortisation of CRJ planes, the operating result was a loss of Ft 14.7 billion.

PricewaterhouseCoopers audited the financial reports of Malév, warning that the future of the business is in danger without fresh capital. It also underlined that some items on the balance sheet could not be fully checked. Malév has since replaced its auditor, opting for Deloitte.

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  1. Bunneh says:
    June 20, 2008 at 8:59 am

    Ok, I get the Amy Winehouse joke in the title, but it is contradictory: if the airline was making losses again, it would be back in the black…. Native speakers!!! Please!!!

  2. Adrian says:
    June 20, 2008 at 10:28 am

    http://www.phrases.org.uk/meanings/202000.html