Hungarian state acquires Budapest Airport

BUDAPEST (Xinhua), June 6 – After more than a decade of negotiations, Hungary has regained the majority ownership of Budapest Airport, reversing a privatization agreement from 2005.

Marton Nagy said, “We have reclaimed this airport. It is now in Hungarian control,” in a release released on Thursday afternoon.

According to the press release, the acquisition cost 3.1 billion euro (3.35 billion dollars). The Hungarian government secured 80 percent of the stake while French company Vinci held the remaining 20 percent.

Budapest Airport is constantly expanding its network of routes. In 2023 it will offer 131 direct flights by 39 airlines. The airport’s passenger traffic reached a record of 16.2 million passengers in 2019. By the end of 2023 the airport will have recovered more than 90 percent of the traffic it had before the pandemic.

In recent years, the cargo handling volume has grown significantly, surpassing 201,000 tons per year.

In a statement, it was stated that the Hungarian Government and Vinci Airports would work together to raise the Budapest Airport’s standard to world-class, and to enhance its role as the hub for tourism in the region and for freight services.

Related Articles