Magnus subsidiary takes order for 100 Il-103 aircraft
Anatoliy Kosolapov / Shutterstock.com
Aviation Engineering, the subsidiary of Hungaryʼs Magnus Aircraft, has received orders for the first 100 Il-103 aircraft, worth USD 30 million, to be made at Magnusʼs aircraft plant in Pécs (SW Hungary), due to be operating at full capacity from early next year, the company told state news wire MTI on Saturday.
Il-103 (Photo: Anatoliy Kosolapov / Shutterstock.com)
Magnus announced in August that Aviation Engineering had entered into an agreement with Russiaʼs UAC about becoming the sole manufacturer and distributor of their Il-103 aircraft. Magnus then said the agreement will provide a great opportunity for the company as it will also allow Magnus to export to Russia the composite components made in Pécs as well as its two-seater Fusion aircraft line.
Magnus noted that the main area of utilization for the Russian aircraft is pilot training, adding that they also expect to see high demand for the aircraft in leisure and business use.
The Il-103 four-seater plane was developed by the Ilyushin Design Bureau in the 1990s. Magnus said the structure of the aircraft is currently made of metal but an upgrade of the entire aircraft will be started from next year, including redesigning it to a composite structure.
Public records show Magnus Aircraft had HUF 175 mln net revenue in 2017 and HUF 320 mln revenue in 2018.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
