Hungarian State Plans to Elevate Budapest Airport to World-Class Status
The Hungarian Ministry of National Economy (Nemzetgazdasági Minisztérium, NGM) announced on 6 June that the Hungarian government has repurchased the company operating the Liszt Ferenc International Airport (Budapest Airport). The state has ambitious plans to transform the airport into one of the best in the world.
After more than a year of negotiations, the sale and purchase agreement for Budapest Airport Plc. was finalized on 6 June 2024. This transaction marks the airport’s return to national majority ownership after nearly 20 years, as reported by Daily News Hungary. The Hungarian State now holds an 80 percent stake in Budapest Airport Plc., while the French co-investor VINCI acquired a 20 percent stake, according to World Economy.
The purchase price for the airport was EUR 3.1 billion, approximately HUF 1,200 billion. To fund this acquisition, the Hungarian state divested several assets.
The government and the French co-investor-operator have set a goal to elevate Budapest Airport to one of the top airports globally. The airport is expected to play a crucial role in boosting Hungary’s position as a hub for tourism and cargo, further connecting Western and Eastern capital and high technology in the country, as reported by Világgazdaság.
The government envisions Budapest Airport as a facility that will cater to the needs of both the population and the economy at a high standard. The NGM, the owner-operator, and VINCI will present the airport’s future objectives and business plan at a joint press conference scheduled for early July.
With this strategic partnership, Hungary aims to establish an airport that not only meets international standards but also significantly contributes to the country’s economic development and international connectivity.
