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Three Hungarian businessmen backed by Middle East investors plan to launch a new Budapest-based full-service airline to plug a market gap left by the collapse of flag carrier Malev last year, reported Reuters.
Solyom (Falcon) Hungarian Airways expects to operate six planes by the end of September and grow its fleet to 25 aircraft by the end of 2014 and 50 by 2017, including 10 wide-body jets capable of long haul flights.
Solyom chief executive Jozsef Vago gave no details of its routes but forecast rapid expansion into the Middle East, North Africa and former Soviet states.
Budget airlines including Wizz Air and Ryanair have picked up some of Malev's destinations from Budapest while others remain unserved.
Peter Morris, an aerospace expert at Ascend Aviation in London, said a new carrier would have a hard time filling planes against established competitors in both the full-service and the budget segments.
Vago said Solyom was focused on filling the gap left by Malev.
"Low-cost airlines will never be able to do that," he told Reuters.
Vago said an industry investor from Oman and a financial investor from the United Arab Emirates were committed to funding Solyom. He declined to name them.
Cargonews Asia
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