Wizz Air has declared that it is to call on the European Commission to investigate the Hungarian government’s decision to put financial resources into Malév, the country’s struggling national airline.
Wizz Air will challenge the legal basis of what it describes as Malév’s re-nationalisation. Wizz Air claims there are serious questions over the legality of the transaction. “The decision is clearly another case of illegal state aid, this time €90 million worth of additional capital,” the low-fare carrier stated. There has been no decision from the European Commission approving this transaction, therefore if the Hungarian government implements the recently announced recapitalisation of Malév, it would likely be an unlawful state aid as it clearly violates the state aid rules, it is discriminatory, distorts competition and provides no benefit to the consumer.”
Wizz Air also claims that with this move the Hungarian government is wasting tax payers’ money. “It is deeply concerning that the Hungarian state is wasting further tax payers’ money in these difficult economic times on an ‘investment’ that makes no economic sense as clearly no private investor was prepared to make it. The same money could have been used on measures to alleviate the negative consequences of Malév's bankruptcy instead of pouring the money into prolonging the existence of the problem,” Wizz Air declared. “Civil aviation is a sector where market liberalisation has resulted in intense competition, to the benefit of consumers. Competition law (including state aid law) is there to protect such competition and the Hungarian government should respect the rules and guard – if not promote – competition instead of distorting it.”
Although Trump’s geopolitics policy for Europe remains unclear, defence analysts from the US and Europe predict how his incoming administration would attempt to handle critical issues on the continent.
The UK budget announced in Parliament on 30 October was the first by a Labour government in 14 years which has also launched a review into defence procurement programmes.
The Australian government has placed a focus on Guided Weapons and Explosive Ordnance (GWEO) which has included the purchase of additional long-range rocket systems and investments in local production of missiles.
The UK budget announced in Parliament on 30 October is the first by a Labour government in 14 years. While it sees a boost in defence spending, this comes in the face of fiscal challenges and the effects of inflation.
The changes are intended to meet greater need and deliver more value for money.
BAE Systems, Booz Allen Hamilton and Lockheed Martin have been betting on new facilities and innovative manufacturing technologies to speed up the development of new solutions.
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