Operational woes, however, will not be covered up anymore from next year on. MÁV's passenger business (MÁV Start that is to be established in July this year), expects losses to amounting to HUF 50 billion this year, implying that the company will consume much of its capital in the first year of its operation, broadsheet Népszabadság said on Monday. By 2009, the company's losses can be up at HUF 55 billion against HUF 15 billion capital.

MÁV Start will either have to receive HUF 50 billion more funding from the state or it should considerably reshuffle its timetables (cost cutting).

The first scenario would bump into the undertakings in the Convergence Programme, which the government is highly unlikely to rewrite, and the second version would go against the company's pledge to modernise operations (e.g. more routes, more trains). It is still more likely, however, that MÁV would choose the latter path, as it has already expanded its timetable by 13-14% this year.