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Ryanair has swooped in to take on 26 additional routes from the Budapest airport after Hungarian national carrier Malév suddenly ceased all flights Feb. 3 in response to an “‘unsustainable'” financial situation. Industry analysts say the Irish low-cost airline is just the first of a swarm of companies that will try to expand routes to Budapest now that Malév is out of the running.

On the heels of Ryanair’s announcement, several other European carriers, including Lufthansa and Air Berlin, have said they plan to increase services to Budapest to fill in the hole left by Malév’s services to the city, which accounted for nearly 40 percent of all the air traffic at the Budapest airport.

source: praguepost.com

The Hungarian national airline Malev has folded after its financial situation became unsustainable.

“‘At 0500 GMT… after 66 years of almost continuous operation Malev will no longer take off,'” it said.

It came after the European Commission ordered Malev to repay various forms of state aid received from 2007 to 2010.

The sums involved amounted to 38 billion forints (130m euros; $171m; £108m), a sum equal to its entire 2010 revenue.

source: BBC.co.uk