Just a short diary because at this point there's nothing left to say but this - Malév, the Hungarian national airline, has gone out of business, with its website announcing the news, after 66 years flying.
Once the proud carrier of Hungary, Malév suffered recently from an order from the EU banning state support to the airline. They were unable to compete with ultra-low fare airlines from the UK and their business model proved untenable. Hours ago the airline suspended operations, posting a message on its website announcing the end of Malev as we know it.
I asked a Hungarian friend of mine who is an analyst for the Hungarian government for his reaction. This is what he said:
3 hours ago Malév (hungarian airlines) ceased all operations after 66 years. admittedly, the constant financial crunch (and an EU directive that stopped all government aid flowing to it) did lend itself to this outcome, nonetheless it came as a shock. my guess is that malev will continue in name only under a different corporation with new ownership, and current investors will have to cut their losses. notwithstanding the dire effect on travelers, perhaps the largest concern is yet another blow to hungary's perceived economic stability.
On a personal note this saddens me. My first flight on a Soviet-era Tupolev 154 was on Malev, a short flight from Budapest to Sofia in the midst of the collapse of the Soviet empire. I remember it well because I was required to pay in US dollars, which the attendant tossed in a weathered briefcase at his feet, before giving me my ticket. All for the low, low price of $44.
RIP Malev.