In 1927, the Hungarian Post issued its first airmail set denominated in pengő and fillér.
As a consequence of the severe inflation following the First World War, the Hungarian korona was replaced by the pengő and fillér on 1 January 1927. The Post therefore withdrew the korona–fillér stamps from circulation on 31 December 1926. Mixed franking remained possible for a further three months, but the earlier airmail stamps also needed to be replaced.
A design competition was held, and the new 12-value set was designed by János Pálinkás (4–40 fillér) and Jenő Haranghy (50 fillér–5 pengő). Until the end of November 1931, these stamps could be used only for franking airmail; thereafter this restriction was lifted.
