Call for an instant quote
0345 90 80 161
Open Mon to Fri 09:00 - 17:30 | Sat 09:00 - 16:00 (GMT)
07 February 2012 12:22
Malev, Hungary's national airline, has ceased operations after 66 years
Hungary's national airline
Malev has ceased flying after 66 years in service, it has been announced.
The airline said its financial situation had become "unsustainable" after it accumulated debts of around 60 billion forints, the equivalent of £170 million.
It ceased operations at 5am on Monday as it was unable to secure new investment.
Passengers are urged to check their
travel insurance documents to find out whether it covers them for any costs or delays caused by the airline's debts.
Two Malev planes are currently grounded in Israel and Ireland, Hungarian primer minister Viktor Urban said, adding that they were not allowed to fly back to Hungary because of the airline's financial problems.
Managing director Lorant Limburger said in a statement that Malev's partner airlines had started to demand advance payments in the past few days after they lost confidence in the company.
He added: "This accelerated the cash outflow to such an extent that by today the airline's situation has become unsustainable. We apologise to all our passengers."
03 December 2016
Thousands of Britons could be heading off on snow-sports holidays without appropriate travel insurance cover, it has been warned.
01 December 2016
Pilots at German airline Lufthansa are on strike again after a two-day break in their campaign of walkouts.
02 December 2016
Britons are among the top spenders in Europe when it comes to holidays, new research has found.
30 November 2016
The UK should think about resuming flights to the popular tourism resort of Sharm el-Sheikh, according to a major United Nations agency.
29 November 2016
Plans are in place to develop a new aviation arrangement between the UK and US, to ensure holidaymakers can still fly between the two countries once Britain departs the EU.
26 November 2016
Hundreds of Lufthansa flights have been grounded after pilots working for the airline took part in a strike.
25 November 2016
The US is warning its citizens that Europe is facing a "heightened risk of terror attacks" at Christmas markets and other seasonal holiday events.
24 November 2016
A groundbreaking radiotherapy machine that can track the changing position of tumours in real time will soon be used to treat cancer patients in the UK.
23 November 2016
Top airline bosses are urging the government to scrap air passenger duty ahead of Wednesday's Autumn Statement.
22 November 2016
Winter sun is now the most popular holiday type, according to new research conducted by travel experts.
19 November 2016
A holiday price increase of 10% on trips to Europe could cause tourists to postpone their getaways next year, experts are warning.
18 November 2016
British citizens will no longer be able to travel freely to Europe without paying a "travel tax" or filling in visa forms under plans unveiled by Brussels.