Qatari help to further develop Budapest Airport
The completion of the Hungarian state takeover of Budapest Airport may face a delay until 2024, and subsequent plans involve the potential construction of a third terminal at Liszt Ferenc Airport in collaboration with a Qatari investment company.
Hungarian state to acquire Budapest Airport
The finalisation of the acquisition of Budapest Airport, the capital’s key aviation hub, is on the horizon. However, the signing process might extend into the next year, necessitating agreement on the price with the three current owners and ten creditors.
Economic Development Minister Márton Nagy, in conversation with Bloomberg, highlighted the intricacies of the negotiations. The Hungarian government, keen on offering a competitive market-based price, plans to acquire the airport jointly with France’s Vinci Airports, with ownership shares divided 51 to 49 percent.
Qatari help could be on the way
Post-acquisition, Hungary aims to engage the Qatar Investment Authority either as a financial or strategic investor. Plans are underway for the construction of a third terminal and the expansion of the airport’s capacity, as reported by airportal.hu.
Although the third terminal concept has been in consideration for years, former CEO Christ Dinsdale, in 2021, anticipated construction to commence in 2025. However, recent indications suggest a shift in the timeline, now pointing towards a commencement in 2028.
Furthermore, amendments to the law on air transport will exempt state-controlled companies involved in airport operations from various legal obligations, including asset declaration, the law on the economical operation of public companies, the Labour Code, the law on national security services and the law on national property. Stay tuned as these developments unfold in the aviation landscape.
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