Hungary's national airline, Malev, ceased operations at 0600 this morning (3 February).
The airline had warned it was struggling to find enough finance to continue, and had a deadline of this Friday.
As reported on Business Traveller's sister publication, ABTN, Malev battles for survival on Wednesday, Malev CEO Lorant Limburger told the airline’s board that “despite the continually improving commercial results the financing of activities had become unviable”.
More news will follow, particualrly on measures to help stranded passengers.
Update Wizzair is offering "rescue" fares to Malev passengers
http://wizzair.com/about_us/news/?language=EN#wizen099
The airline says "Passengers who hold a valid Malev electronic ticket for travel between February 3rd, 2012 and March 24th, 2012 can call the Wizz Air call centre at +36 1 358 6565 to benefit from the 9900 HUF fares (all inclusive, one way). Seats are subject to availability and flights must be rebooked by 6pm February 13th, 2012."
