It seems Sólyom Airways will never fly

Thursday, October 10, 2013

Sólyom Holding's owner and managing director said on Thursday afternoon to the company's 73 employees that due to stalled negotiations with potential investors the firm had no money to pay their wages.

Managing Director of Falcon Airways József Vágó said on Tuesday that Sólyom Airways couldn't strike a deal with Omani investors.

József Vágó was interviewed Thursday morning by the public radio, then he fell ill and was admitted to hospital. Another managing director of Sólyom Airways has resigned on Thursday.

In July, József Vágó said the company would start its operation with 6 aircraft and fly to 22 destinations including six European capitals. The company initially will be funded by Oman and UAE investors to ensure the firm's long-term sustainability.

(Notes: Knowing the predatory nature of current business practices in the airline industry – in any industry – , I wouldn't be surprised if it turned out that the investors were intimidated by the competition forcing them to withdraw their support from the company.)

(MTI -


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