Ryanair is to base four new Boeing 737-800 series aircraft in Budapest Airport opening up 31 routes out of the Hungarian capital in response to yesterday’s collapse of Malev Airlines.

Hungary’s national airline has ceased operations and grounded all its flights in response to an “unsustainable” financial situation.

MALEV, Hungarian Airlines, have introduced cheap flights from Dublin to China, with fares starting at €519 plus taxes.

The London market stuttered forward today despite losses by a string of blue chip mining stocks.

Rolls-Royce today agreed to supply engines to China’s Hainan Airlines in a deal which could be worth more than $500m (€393m).

China ordered 150 Airbus single-aisle A320 airliners today, more than twice as many plane orders than the company’s US-based rival Boeing received from China last month.