OREANDA-NEWS.Vnesheconombank and the Government of the Republic of Hungary have agreed to settle Malev Hungarian Airlines’ bank debt. The relevant settlements have been arranged during the working visit of the Russian President Vladimir Putin to Hungary.

As mentioned by Sergey Gorkov, the Chairman of Vnesheconombank, lengthy negotiations with the Hungarian party have resulted in an out-of-court settlement. In the coming days, the Bank and the Government of Hungary plan to conclude a memorandum of understanding, reflecting the parties’ intentions to settle the debt, and setting forth general terms and conditions including the repayment period.

As of the liquidation date, the indebtedness of Malev Airlines on the loans granted by Vnesheconombank amounted to EUR 126 million.