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HungaroControl to complete headquarters by end-2011

Hungary's state-owned air traffic controller HungaroControl plans to complete its HUF 10 billion-11 billion headquarters at Ferihegy International Airport by the end of 2011, business daily Világgazdaság reported on Thursday.

HungaroControl is covering about 40% of the cost of the investment with bank loans, 40% from its own resources and 20% from EU funding, CEO Andrea Markó told the paper.

The company's old headquarters will be used as a training center.

HungaroControl expects revenue of HUF 22 billion-23 billion this year, slightly over that in 2008, Markó said.

The company plans to raise headcount from 678 to over 700 by the end of the year as it needs more air traffic control staff as well as building staff for the new headquarters. (MTI-ECONEWS)