Malev's technical arm, Aeroplex of Central Europe (ACE), has been re-organised as a state-owned, standalone maintenance provider after it was freed from the bankrupt flag carrier's assets last week.
The Budapest-based company says it has been released from the ownership and liquidation process of Malev - making it "free from any burden" - and that it will continue its operation as a "fully state-owned, independent MRO [maintenance, repair and overhaul provider]".
The firm adds that recapitalisation is "impending", which should make it a "more stable organisation".
Aeroplex was established as a standalone MRO provider at Budapest Ferenc Liszt International Airport in 1992. It offers line support as well as base maintenance for Airbus A320, Boeing 737, 757, 767, Fokker 70 and 100 aircraft.
Among the company's largest third-party customers is Scandinavian budget carrier Norwegian Air Shuttle.