Hungarian national airline Malév collapses into insolvency, ceases all flights (updated)
May 26th, 2010

Police to investigate Malév privatization

Budapest Police have ordered an inquiry into the privatisation of the airline Malév. A misuse of funds inquiry will be conducted on an unidentified person, Budapest Police stated on their website yesterday.

As the privatisation was not prepared with due care and expertise, a €32 million counter-guarantee issued to a Russian bank was only found when the state took the airline back, the police explained.

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