The government regards the aviation industry as a priority sector so that Hungary should become a winner not only of the automotive industry and the road transportation industry, but equally of the aviation industry, the Minister for Innovation and Technology stated on Monday at the inauguration of the composite factory of aircraft manufacturer Magnus Aircraft Zrt. The factory with a ground space of more than 5,000 square metres is located at the Pécs-Pogány airport.

László Palkovics said the development of the aviation industry in Hungary is also significant, in addition to that of the automotive industry which qualifies as one of the priority sectors of the Hungarian economy. In the past one year alone, Airbus, Lufthansa Technik and Rolls Royce have all launched investments in Hungary.

The recent favourable changes also contributed to the fact that three quarters of a year ago the Hungarian government established a Council of the Aviation and Airline Industry which set out to prepare an aviation industry strategy, he said.

In two years, Magnus Aircraft Zrt. has invested some six billion forints, while the government has provided grants worth two billion forints for investments in the Pécs-Pogány airport. In addition to the factory with a ground space of 5,100 square metres inaugurated on Monday which will manufacture composite elements, there is also a previously completed assembly unit with a ground space of 1,900 square metres as well as an office unit with a ground space of 300 square metres.

In the smaller manufacturing unit, production started at the end of last October, while the composite unit that will manufacture Hungarian-developed composite aircraft is currently in the test phase. According to plans, the composite factory will be able to operate with full capacity as early as next year, and will permit the production of more than two hundred aircraft, mostly intended for exportation. Additionally, the company is seeking to serve the needs of all industries which require composite elements for their products.

Chief Executive László Boros said the Hungarian-owned Magnus is now an internationally recognised company. Its products are in demand, and thanks to its subsidiaries, it is present on every continent of the world with its self-developed Fusion aircraft models. He highlighted that the company is on the verge of great development which is also owing to the dedication and professionalism of its staff, in addition to the fact that they are using the latest cutting-edge technology in the Pécs-Pogány units. Owner Gábor Tarány said they would like to prove their legitimacy in the aviation industry, and that a Hungarian-developed aircraft can be successful is something that the Hungarian people can be proud of.

The company announced at the end of the summer that the first order had been placed for their Hungarian-developed composite-body aircraft. The company employs seventy people, but at the end of the year, as expected, they will need more than one hundred employees, while in the second half of 2020 Magnus could provide jobs for as many as 150 people in Pécs.

According to information provided by Magnus earlier, the company is the first in the world to have developed a two-seater aircraft made from composite materials which is suitable for aerobatics. Additionally, they have also developed an aircraft made from composite materials which operates with petrol, rather than with kerosene. As a result, it has lower environmental emissions and operating costs than other aircraft.

According to the public company register data, Magnus Aircraft Zrt. with equity amounting to half a billion forints had a net sales revenue of HUF 175 million in 2017 and HUF 320 million in 2018. Last year, its after-tax profit increased from HUF 5 million two years ago to HUF 12 million.

(MTI)