New Production Hall Added at Magnus Aircraft Plc.

The foundation stone of the new production hall of the composite aircraft manufacturer Magnus Aircraft Plc. was laid on Friday. The facility will be built in Pogány, in the south of Hungary, as part of the company's HUF 6 billion development project.

Speaking at the ceremony, Finance Minister Mihály Varga said the company's two-seat aircraft are in demand worldwide, used in a wide range of industries from forestry to border protection. A four-seater small aircraft, including an electric version, will be added to the product range.

The development will also contribute to strengthening the defense industry, he said, adding that Magnus's new aircraft will help to expand the international market.

CEO László Boros said that as part of the development, a 500-kilowatt solar farm will be built next to the 1,500-square-meter production hall.

He said the Fusion II two-seater is well-established in the market and is used for training, observation and personal use. For the production of the four-seat aircraft, the IL-103 aircraft license was purchased, a 3D model of the original design was created, redesigned to a fully composite structure and the manufacturing technology process was developed.

Founded in 2014, the company employed eighty people last year; in 2022, it achieved net sales of HUF 538 million. The company announced half-yearly last year that it expects a positive break-even result by 2023, and positive results with exponentially growing sales this year and in the following years.