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Malev must pay back illegal subsidies says EU Commission
10 January 2012
The EU's executive body orders the Hungarian government to recover state aid given to its flagcarrier between 2007 and 2010.
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Malev
Hungary
state aid
EU Commission
Hungarian flagcarrier, Malev, must pay back illegal state aid it received from the Hungarian government over a period of three years. The EU commission, the executive body of the European Union, ruled the subsidies illegal in a decision announced yesterday.
According to a source with knowledge of proceedings, the EU Commission investigated eight items. Malev’s total exposure is about Eur 280 million ($358 million), the source says.The illegal state aid, which took place between 2007 and 2010, included cash facilities, tax...
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