Hungary regains control of Budapest airport in €3.1 billion deal
The Hungarian Ministry of Economy reported that after two decades, the government has once again become the majority shareholder of Budapest Airport. The transaction cost €3.1 billion. Viktor Orban's government has been aiming to repurchase the airport, which was privatized by Ferenc Gyurcsany.
12:21 PM EDT, June 7, 2024
The ministry stated in a communication quoted by Hungarian media that the airport has once again become state-owned. The transaction cost €3.1 billion.
The Hungarian state will acquire 80% of Budapest Airport Zrt. 's shares, while 20% will go to a co-investor, the French company Vinci, which operates over 60 airports in several countries worldwide.
Budapest Airport Zrt. 's previous majority owner was AviAlliance GmbH, which belongs to the Canadian Public Sector Pension Investment Board (PSP Investments).
Orban's goal
Viktor Orban's government has been aiming to repurchase Budapest Airport, which was privatized by Ferenc Gyurcsany at the end of 2005. Since December, it has been reported that the transaction is close to completion.
Initially, the media reported that the government would acquire a 51% stake while 49% would go to a foreign operator.
The government held talks with several investors, including parties from Qatar, for this purpose. The choice ultimately fell on the French company Vinci.
Expansion
Budapest Airport is set to be expanded, and plans are expected to be presented by the new owners at the beginning of July.
Ferenc Liszt Airport is the largest international airport in Hungary, located about 10 miles southeast of the center of Budapest. In 2023, it served 14.7 million passengers.
