Budapest Airport Reports Record Profits in 2023
Budapest Airport Celebrates Second Profitable Year Following Pandemic Recovery
Budapest, 31 May 2024. Budapest Airport has announced the successful closure of its second profitable year after the challenges posed by the coronavirus pandemic. Thanks to responsible financial management and intensive efforts to recover, the airport operator ended 2023 with a net profit of 74 million EUR on net revenues of 337.8 million EUR. Over the past two years, the company has managed to reduce its losses accumulated under COVID to 47 million EUR.
The financial results indicate a strong comeback for Budapest Airport, with improving passenger and cargo traffic data. After facing severe difficulties due to the pandemic, the airport has shown significant progress in overcoming the impacts of COVID-19. In 2023, passenger traffic exceeded expectations, with 14.7 million passengers using Ferenc Liszt International Airport, marking a 91% recovery from pre-pandemic levels. Additionally, air cargo volumes reached a record high, with the BUD Cargo City handling over 200,000 tons of cargo.
Looking ahead, the company’s preliminary forecasts predict a further increase in passenger numbers in 2024, surpassing the record-breaking figures from 2019 and approaching 17 million. Cargo volumes are also expected to reach a new milestone of 240,000 tons.
The financial success of Budapest Airport in 2023 was driven by a 20% increase in net revenue compared to the previous year, reaching 337.8 million EUR. The company also invested in capacity expansion and infrastructure developments totaling 77 million EUR in 2023, bringing the total amount of investments since 2019 to over 130 billion HUF.
In addition to infrastructure improvements, Budapest Airport successfully renewed its maturing bank loans, ensuring financial stability for the future. The dividend payment to the Hungarian parent company amounted to 43 million EUR, reflecting a positive outcome after four challenging years.
CEO Kam Jandu highlighted the airport’s achievements, including being awarded the Best Airport in Eastern Europe for the eleventh time. He emphasized the continuous effort to improve the quality of the airport and passenger experience, resulting in numerous international awards and recognition.
With a commitment to maintaining high standards, Budapest Airport aims to build on its success and provide exceptional service to passengers. The recent ASQ results for the first quarter of 2024 ranked Budapest Airport first among 20 peer airports surveyed, a significant milestone in the airport’s history.
Passengers can look forward to new developments and enhanced services at Budapest Airport, ensuring a seamless travel experience and continued growth for the airport in the coming years.
