Hungary

Budapest Airport Undergoes Transformation Following Government Acquisition

Hungarian Government Acquires Liszt Ferenc International Airport

After nearly two decades, the Liszt Ferenc International Airport is once again under the ownership of the Hungarian state. A formal handover ceremony took place on Tuesday, with Minister for National Economy Márton Nagy and Vinci Airports CEO Nicolas Notebaert in attendance. The French owner, Vinci Airports, handed over control of the airport to the Hungarian government, marking a significant moment for aviation in Hungary.

During his speech at the ceremony, Minister Márton Nagy expressed his joy at the completion of the acquisition, stating that the Hungarian state had purchased an 80 percent stake in the airport for a total of EUR 3.1 billion. The remaining EUR 1.44 billion was covered by a loan. The government has partnered with Vinci to create a joint business plan for the airport’s development over the next decade.

One of the key goals outlined in the business plan is to increase the number of passengers passing through the airport from the current 15 million to nearly 20 million by 2030, with a long-term target of 25 million. The government and Vinci are also planning to construct new terminals and service facilities to enhance the airport’s capacity and efficiency.

Minister Nagy also addressed the need for improved infrastructure to support the airport, including the development of high-speed rail connections and expanded parking facilities. Plans are in motion to build a new terminal, with Terminal 3 expected to be completed by 2032. Financing for these infrastructure projects is currently under discussion within the Hungarian cabinet.

In response to questions from journalists, Minister Nagy announced that the government would eliminate extra taxes on airlines starting from January 1, 2025. This decision is part of a broader strategy to support the growth of the aviation industry in Hungary.

Vinci Airports CEO Nicolas Notebaert emphasized the company’s commitment to developing the airport in line with a shared vision with the Hungarian government. He highlighted the need for increased capacity to accommodate growing passenger traffic and expressed confidence in the airport’s potential for expansion.

Overall, the acquisition of Liszt Ferenc International Airport represents a significant milestone for Hungary’s aviation sector. With ambitious plans for growth and development in place, the future looks promising for the country’s main gateway to the world.

 

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