\r\nPassenger unit M\u00c1V Start was spun off from the parent company in 2007, while M\u00c1V Trakcio and G\u00e9p\u00e9szeti became independent in 2008. One of the reasons for this restructuring was to prevent the cross-subsidisation of passenger activities from freight revenues, but with the privatisation of M\u00c1V Cargo in 2008, this structure has become more of a hindrance to the passenger business than a benefit.\r\nFrom April, M\u00c1V Start will take ownership of the M\u00c1V Trakci\u00f3 locomotive fleet, meaning it will no longer need to pay other companies to provide traction services. However M\u00c1V Trakci\u00f3 will remain as an entity to "manage" the fleet, and the transfer of activities will be phased, meaning it will not be completed until the end of 2014.\r\nApril 1 will also see the creation of the National Rail Network Operator (NVP), a new infrastructure manager which will be institutionally separate from M\u00c1V. This means M\u00c1V will effectively become a holding company, responsible only for overseeing the activities of its remaining business units. The director general of NVP will be Mr Zsolt V\u00f6lgyesi, who is current general manager of M\u00c1V FKG, the infrastructure maintenance company based in J\u00e1szkis\u00e9r.\r\nThe new structure is intended to bring Hungary in line with European legislation on liberalisation of the railway industry.\r\nMeanwhile M\u00c1V has released its financial results for 2012, which showed the group achieved an operating surplus of Forints 7bn ($US 31.4m). However, overall pre-tax results are negative showing a loss of Forints 3bn across the group. The total value of bank loans decreased from Forints 205bn in 2011 to Forints 156bn at the end of 2012, while M\u00c1V Start fares income rose by 4.4% compared with 2011.\r\nThe improved results are largely the result of the government's decision to compensate M\u00c1V fully for the cost of running the network.