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Air Race Game
Take the scenic route. Against the clock.
Pilot a Spitfire-style aircraft through gates and under a bridge. Find your line, keep your nerve, and chase a better time.
Play Air Race GameTibor Porgánczki
Finance Director · M&A Specialist
Numbers tell stories — and I've spent the last 15 years making sure those stories end with success. As Head of M&A, I led due diligence and closed real estate services roll-up deals across Europe and Asia-Pacific, then monitored their performance to ensure underwritten targets were delivered.
Later, as Finance Director, I built teams, designed financial models, and advised on investments that shaped the future of real estate and mobility.
When I'm not crunching numbers, you'll find me mentoring young professionals, tinkering with AI tools, or spending time with my family in Budapest, Hungary. If you're working on something bold, or need the expertise of a Middle-East and Asia specialist, let's talk.
Let's TalkBased in Budapest, Hungary
2004 — present
Career Timeline
2004
Tax Advisor Associate
PwC · Budapest, Hungary
Started career at PwC's Budapest office as a Tax Advisor Associate, building a foundation in financial analysis and advisory.
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2006
Certified Tax Advisor
Hungarian Chamber of Tax Advisors · Budapest, Hungary
Certified as a Hungarian Tax Advisor — a professional qualification that deepened expertise in financial regulation, tax structuring, and client advisory.
2009
MBA — Finance & Strategic Leadership
Judge Business School, University of Cambridge · Cambridge, United Kingdom
Completed MBA at Judge Business School, University of Cambridge, specialising in finance and strategic leadership — the springboard for an international career in M&A and corporate finance.
2010
Investment Analyst
Bloomberg · London, United Kingdom
Began international finance career at Bloomberg in London, specialising in investment-grade bond valuations and financial modelling — developing rigorous analytical foundations in global capital markets.
2011
M&A Analyst
Colliers International · London, United Kingdom
Joined Colliers International in London, playing a supporting role in executing the M&A roll-up strategy — growing the European business from $50M to $200M in revenue by 2013.
2014
Head of M&A, Asia-Pacific
CBRE · Hong Kong
Joined CBRE as Head of M&A, Asia-Pacific in Hong Kong, driving cross-border acquisitions and strategic growth initiatives across one of the world's most dynamic real estate markets.
Closed deals were — among others — the acquisition of a minority interest in a full-service real estate company in Malaysia and acquisition of a healthcare project management company in Australia.
2018
Finance Director, Asia-Pacific
WeWork · Hong Kong
Appointed Finance Director, Asia-Pacific at WeWork to launch and scale financial operations for a new office fit-out business line — building the commercial infrastructure across the region from the ground up.
2019
Finance Director, China
WeWork · Shanghai, China
Relocated to Shanghai to restructure WeWork China's ailing business — optimising operations and financial performance during a critical turnaround phase.
2020
Acting Head of Financial Planning & Analysis
Wizz Air · Budapest, Hungary
Returned to Budapest during COVID and joined Wizz Air to stabilise the FP&A team and implement data-driven financial strategies amid industry turmoil — navigating the airline through one of aviation's most turbulent periods.
2022
Financial Planning & Analysis Manager - Mobility
NEOM · Tabuk, Saudi Arabia
Joined NEOM — the world's most ambitious gigaproject — in Saudi Arabia, bringing expertise in cross-border deal-making and complex financial modelling to one of the largest infrastructure programmes ever undertaken.
2025
Head of Sector Strategic Planning
NEOM · Tabuk, Saudi Arabia
Promoted to Head of Sector Strategic Planning, leading a team to oversee business case processes for NEOM's economic sectors — energy, data centres, mobility — and driving multi-billion-dollar investment decisions.
Projects
Interactive Models
I like to pressure-test businesses by modelling their unit economics from the ground up. Here are a couple you can play with yourself — drag the sliders and watch the numbers move.
Interactive model 01
eVTOL Flight Economics
Downtown Manhattan → JFK · ~12 mi · ~10 min
Set a low–high range for each assumption. The model reports a base case plus the full pessimistic ↔ optimistic envelope — a live sensitivity analysis for an electric air taxi across New York.
Ticket price / seat$100 – $200
Load factor60% – 90%
Energy per flight20 kWh – 30 kWh
Electricity price$0.15/kWh – $0.30/kWh
Pilot cost / flight$15 – $40
Maintenance / flight$6 – $25
Battery amort. / flight$4 – $12
Vertiport fees / flight$40 – $150
Ground ops & overhead$25 – $60
Aircraft price$1.3M – $4.0M
Flights / day (per aircraft)15 – 41
Fixed: 4 seats · 150,000-cycle airframe life
Base case (range midpoints) · low–high = pessimistic ↔ optimistic
Profit / flight
$238
−$83 – $618
Margin
53%
−34% – 86%
Breakeven / seat
$71
$28 – $134
Revenue / flight$450$240–$720
Total cost / flight$212$102–$323
Cost breakdown / flight — base case
Energy$6
Pilot$28
Maintenance$16
Battery amortization$8
Vertiport fees$95
Ground ops & overhead$43
Aircraft depreciation$18
Profit / day · aircraft
$6,670
−$1,240 – $25,352
Profit / year · aircraft
$2,434,489
−$452,600 – $9,253,358
Monte Carlo simulation
10,000 trials · Beta-PERT sampling over each range (peak at the base case)
A simplified model for exploration — not investment advice. Default ranges are drawn from the public sources below.
Sources & references
- Route & flight time — BloombergNEF — Manhattan to JFK in 7 minutes
- Ticket price (~$195/seat, 4 seats) — Simple Flying — Joby’s first JFK–Manhattan flights
- Ticket price (~Uber Black) — Fox News — air-taxi ride pricing
- Cost breakdown (pilot, fees, utilization, airframe life) — Risk Premium Research — Joby: Unit Economics
- Energy per flight — Risk Premium Research — Joby Unit Economics: Energy Consumption
- Energy efficiency (academic) — PNAS / PMC — energy-efficient battery-powered urban aircraft
- Maintenance & operating cost — Vertical Magazine — why Uber thinks eVTOLs will be affordable
- Cost trajectory — ARK Invest — electric air-taxi cost analysis
- Aircraft price / valuation — Kerrisdale Capital — Joby Aviation report (PDF)
- Electricity price — NYSERDA — NY commercial electricity rates
- Pilot pay — Glassdoor — helicopter pilot salary
Next up: the unit economics behind AI frontier models — coming soon.
Off the clock
Fun
A little room for play. I am a geek at heart who has fond memories of the 80s games on Commodore 64 (if you are old enough to know what that was). Here are two games to explore when you need a break from the numbers.
Desktop · Keyboard
Freedom Pit
One pit. Plenty of complications.
Fill the trench, battle the wind, dodge the scorpions and work your way into a truck. A small game about making progress against the odds.
Play Freedom Pit