The avionics.ini is missing some lines. It's pretty much the same with the missing AB and smoke effects. Simply add the content in bold.
[HUD]
HUDMaterial=HUDMaterial
....
[HUDMaterial]
EffectShaderName=fltHUD.fx
DepthBufferCheck=FALSE
DepthBufferWrite=FALSE
RenderedInOrder=FALSE
AlphaTestEnabled=TRUE
CullMode=NO_CULL
LightEnabled=FALSE
UseLightLevel=FALSE
SpecularEnabled=FALSE
EmissiveEnabled=FALSE
FogEnabled=FALSE
AmbientColor=1.000000,1.000000,1.000000,1.000000
DiffuseColor=1.000000,1.000000,1.000000,1.000000
ZBufferOffset=0
PriorityLevel=1
BlendOp=BLEND_SRC_ALPHA
NumTextureStages=1
TextureStage[01].TextureName=
TextureStage[01].MipMap=FALSE
TextureStage[01].FilterEnabled=TRUE
TextureStage[01].StageColorOp=TEXTURE_MODULATE_DIFFUSE
TextureStage[01].StageAlphaOp=TEXTURE_MODULATE_DIFFUSE