Hungary's national air carrier Malev has ceased operations as of 05:00 today ( February 3 ). The state - owned company released a poignant statement announcing that after 66 years of almost continuous operations, Malev flights would no longer depart. CEO Loránt Limburger cited the EU decision forcing the company to pay back EUR 130 million in state aid as the reason for Malev's downfall, saying “[Malev] despite the best intentions, is unable to provide additional financial resources to operate after the EU decision. Considering all these the Board decided to order the cease of operations of Hungary’s National Airline.” Limburger also apologized to passengers, who will be re-routed or compensated if holding valid tickets for today or for the next three days.

Malev ran 22 flights a week to and from Bucharest and anyone due to fly is advised to call +36 1 802 11 11 for information. The decision to stop all flights today was precipitated by two Malev flights being grounded in Israel and Ireland for non payment of debts.

Liam Lever, liam@romania-insider.com 

(photo source: Malev)