Type
Bankruptcy
Country
Hungary
Region
Kozep-Magyarorszag; Kozep-Magyarorszag; Budapest
Location of affected unit(s)
Budapest
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51.10 - Passenger air transport

2,080 jobs
Number of planned job losses
Job loss
Announcement Date
10 February 2012
Employment effect (start)
11 February 2012
Foreseen end date

Description

Following the bankruptcy of MALÉV, the Hungarian national airline group, the company has announced the dismissal of all 2,080 employees in the frame of a mass dismissal process. Employees have received notifications via e-mail after notifying the authorities on 10 February 2012.

Malév employed 1,100 employees directly and a further 980 employees in their subsidiaries (450 Malév Ground Handling, 230 ACE responsible for maintenance and 300 hired via the employment agency Trenkwalder). The step is taken because Malev ceased its operations as of early February 2012.

The incoming Irish air transportation company Ryanair may employ many of the dismissed MALÉV employees, according to newspaper reports.


Sources

  • 10 February 2012: HR Portal
  • 10 February 2012: Heti Világ Gazdaság
  • 10 February 2012: Menedzser Fórum

Citation

Eurofound (2012), Malév, Bankruptcy in Hungary, factsheet number 73079, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73079.