Initially, six aircraft will fly to European and Middle Eastern destinations, rising to 50 planes by 2017. The source said the investors have a fleet worth nearly €4 billion.

First 700 employees will be hired, reaching 3,000 within three years.

Sólyom aims to carry 3 million passengers in 2014, the number carried by state airline Malév before it collapsed in February 2012.

Sólyom will compete with Turkish Airlines and Emirates, not with low-cost airlines, the source said.

The new airline is represented by József Vágó, a former director of the air traffic authority NKH.

Source: Hungary Around the Clock

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