3.42013 Official Journal of the European Union L 92/1 (Non-legislative acts) DECISIONS COMMISSION DECISION of 9 January 2012 SA.30584 (C 38/10, ex NN 69/10) on the State aid implemented by Hungary in favour of Malév Hungarian Airlines Zrt. (notified under document C(2011) 9316) (Only the Hungarian text is authentic) (Text with EEA relevance) (2013/150/EU) THE COMMISSION OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, and in particular the first subparagraph of Article 108(2) thereof, Having regard to the Agreement on the European Economic Area, and in particular Article 62(1)(a) thereof, Having regard to the decision by which the Commission decided to initiate the procedure laid down in Article 108(2) TFEU ('), in respect of the aid C 38/10 (ex NN 69/10) (3), Having called on interested parties to submit their comments pursuant to the provisions cited above, and having regard to their comments, Whereas: I. BACKGROUND AND PROCEDURE (1)  After several unsuccessful attempts of privatisation, in 2007 the Hungarian State concluded a sale and purchase agreement with AirBridge Zrt. (hereinafter: "Air- Bridge") concerning 99,95 % of the shares of its national () With effect from 1 December 2009, Articles 87 and 88 of the EC Treaty have become Articles 107 and 108, respectively, of the TFEU; the two sets of provisions are, in substance, identical. For the purposes of this Decision, references to Articles 107 and 108 of the TFEU should be understood as references to Articles 87 and 88, respectively, of the EC Treaty where appropriate. () Commission decision C(2010) 9671 final of 21 December 2010 (O] C 156, 26.5.2011, p. 11). flag carrier Malév Hungarian Airlines Zrt. (hereinafter: "Malév").  AirBridge paid HUF 200  million (EUR 740 000 () in exchange for the shares. The privati- sation agreement was notified to the Commission in accordance with Article 108(2) TFEU but subsequently withdrawn (%) (2)  Following the new owner’s financial troubles, Russian Vnesheconohmbank (hereinafter: "VEB") gained a stake of 49,5% in AirBridge and became Malév's indirect shareholder. 3)  In March 2010, the Commission became aware through press reports about the Hungarian State’s intention to re- nationalise Maléyv. By e-mail of 2 March 2010 the Hungarian authorities confirmed these press reports. (4) By email dated 10 March 2010, the Commission received a complaint from Wizz Air, a Hungarian based low-cost airline and a main competitor of Malév in Hungary. This complaint alleged illegal and incom- patible State aid to Malév by means of a number of (®) EUR figures in the present Decision are approximations provided only as indications. All HUF figures (with the exception of the EUR 76 million MFB loan and the EUR 32 million VEB guarantee, which indeed are denominated in EUR, see paragraph (20)) are converted into EUR by using the exchange rate of 2 August 2011: 270 EUR/HUE. In 2011 the HUF was strongly fluctuating between 260 and 300 EUR/HUF. () The Hungarian authorities notified the Commission of the financing arrangements in relation to the privatisation of Malév by electronic notification dated 10 April 2008. This measure was registered under reference N 190/2008. The Hungarian authorities withdrew the measure on 12 November 2009.