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DNH 2021 DNH 2021 · 29/05/2021
· Society

Budapest Airport closes worst year ever in 2020

Budapest Budapest Airport Hungarian government investment money
Hungary Budapest Airport

https://www.facebook.com/budapestairport

Budapest Airport, the operator of Budapest’s Liszt Ferenc International Airport, closed its worst year on record in 2020, the operator said on Friday.
 
The company was 110 million euros in the red at the end of the year, with 118 million euros net revenue, down 65 percent from 2019, the statement said. The owners of Budapest Airport have ploughed the 2019 profits into crisis management, it said adding that
the company financed its operation from its own resources and, to a lesser degree, from market-based resources.
Budapest Airport also implemented developments to the tune of 81 million euros, it said.
  • Budapest Airport signs sister airport agreement with China’s Pudong

As we reported before, the Hungarian government wants to buy the Budapest Airport. Based on government-close Magyar Nemzet,

PM Viktor Orbán would like to buy it back for the state because it is one of the most important elements of developing the economy and tourism. 

The airport is currently run by Budapest Airport, which Ferenc Gyurcsány’s government sold in 2005 to ease the budget crisis. The 75-year-long concession contract provided strong protection for the investors. For example, all income from airport services belong to them, Magyar Nemzet says. The share of the state from the airport’s revenue is only 0.5 pc. The government tried to buy the majority holding of Budapest Airport after 2010 several times, but they were not successful. In 2011, the state utilised its purchase option over a 25 pc share segment.

According to Magyar Nemzet, the profit-oriented capital funds that own the majority of Budapest Airport’s stocks might be interested in selling their packages since the traffic at the airport decreased significantly because of the epidemic. In 2019, there were 16 million passengers, while this number was only 3.8 million in 2020.

Based on some sources,

László Palkovics, the leader of the Ministry for Innovation, received the task to arrange the transaction.

Meanwhile, some Hungarian companies would also like to buy Budapest Airport, Magyar Nemzet reported in October. One of them is Dániel Jellinek, who bought 1/8th of Belgrade’s office stock a couple of days before. The leader of the Indotek Group then said that he was in talks with the current owners, but, of course, he did not share further details. Budapest Airport now has three foreign owners: a state-owned Singaporean investment fund, a Canadian pension fund, and a Canadian company.

Source: MTI, Daily News Hungary

Budapest Budapest Airport Hungarian government investment money
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