Malev operating loss heavy, but better than prior year

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Hungarian flag-carrier Malev has confirmed a lower full-year operating loss than 2007, but the deficit nevertheless was Ft10.7 billion ($54 million).

The airline says the operating figure is a Ft4 billion improvement on the Ft14.7 billion loss for the previous year, but admits to an overall consolidated loss of Ft15.1 billion.

Malev says, however, that a "major part" of this poor performance was due to the record fuel prices experienced during 2008.