Malév Hungarian Airlines told employees today that they were unable to pay them the full amount owed them for January wages. Instead, news reports say, employees were paid the equivalent of about $200 today, with the balance promised later in the month. In a statement to the press, the airline's management blamed its financial difficulties on the global economic crisis and "lower turnover and revenue as a result of the seasonality of air travel during the winter."
Reuters reports, "Malev, which is expected to be taken over by state-owned Russian bank Vnesheconombank (VEB) within weeks, promised to pay some of the late wages within days and the rest following the Feb. 10 extraordinary general meeting, where the new Russian owner is expected to take over, the company said in a statement."
