Earlier this week a third airline as many in the weeks has ceased operations. First off was Cirrus Airlines  based out of Germany, then Spanair from Spain. Now the sixty six year old airline from Hungary called Malev Hungarian Airlines ceased earlier this week. Official date was February 3, 2012. Obscure story only days prior the government saying that the airline is imperative to stay afloat. Despite the estimated $270 million dollars estimated debt. 

The basic story as European deregulation will make many more changes to come. As this evolves the government of Hungary just recently demanded the airline pay off its debt for which the airline had no means to pay. The rest is history.

Its Boeing 737 fleet ultimately being stored in Shannon, Ireland as leased from ILFC . This is good news bad news. Good news for Shannon airport charging parking fees. Bad news for ILFC as monies is owed on both sides of this event. However most of its 737 fleet being flown to Shannon for storage will be left in Malev in the hopes the airline may re surface.

Good news and opportunity for Ryan air who rapidly jumped in by meeting the government applying for permits and using Malevs hub Budapest as Ryanair additional new European base. The government seems to have agreed. Flight operations will begin as early as February 17, 2012 by Ryanair. 

Source Airline Adviser 02/10/12

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