The operator of Budapest Airport will change: here is what follows

The Orbán government has been planning to buy Budapest Airport from its German-Canadian owners for a while. Since the price was too high, they sought a partner. At first, it seemed the second investor would come from the Middle East, but now it is clear that the French will be those who may acquire not only 49% of the shares but also the right to operate Hungary’s most crowded airport.

The price of Budapest Airport is high for the Hungarian state budget that is struggling with an economic depression. Based on the latest news, the offer towards the German and Canadian owners was around EUR 4 billion. The Hungarian government needs to find at least half of the price, while the other half will be covered by the French partners.

That is why the Orbán cabinet sold its shares in two insurer companies, the Alfa and the Union. However, that transaction may bring “only” EUR 480 million. Therefore, the government issued Eurobonds, and the talk is about a possible French loan. Despite the problems of the Hungarian economy, it seems the Orbán cabinet decided to acquire the airport, no matter the costs and the difficulties.

What will the transaction mean for us, passengers?

At first sight, not much. But, unfortunately, we cannot see many things.

According to the official gazette of the European Union, the French Vinci Airports and the Hungarian state (the Corvinus International Investment Ltd) will buy Budapest Airport. The European Commission will investigate the transaction in a simplified procedure. All third parties have the right to submit their remarks on the issue in the ten days following 28 November.

Interestingly, a Canadian pension fund (PSP Investments) and a German company owned the shares of the Budapest Airport. The European Union’s official gazette wrote that PSP Investments will get operation rights in the international airport of Athens through AviAlliance, a company they own.

The European Commission decided on the transaction. AviAlliance currently operates the international airports of Budapest, Athens, Düsseldorf, Hamburg and Puerto Rico, turizmus.com, a Hungarian travel and tourism news outlet, wrote.

Read also:

• Scandal on Lufthansa’s Budapest flight: Canadian man suffered burns – Read more HERE
• New destinations from Budapest Airport in the winter season – Details in THIS article