The Puma name and insignia was revived in 1988, when the 1st fighter squadron of the 59th Szentgyörgyi Dezső Air Base of the MH took the name Puma. At that time they flew MiG-21s, and from 1994 MiG-29s. They have already proven their proficiency in many international exercises, which has been praised by foreign pilots. Ernő "Gege" Hegedűs, the former squadron commander, has been outstanding in reviving the Puma tradition and maintaining good relations with the Old Pumas. After the retirement of the MiG-29s, they are currently flying the Swedish JAS 39 Gripen.

The memory of the Cougars is preserved - among others - by the Puma Foundation and, albeit indirectly, by the 101st Puma Virtual Fighter Division.