Hungary’s Budapest Airport, which has been investing heavily in cargo infrastructure over recent years, has a new owner.
Yesterday, AviAlliance and the co-shareholders of Budapest Airport agreed to sell the airport to a consortium consisting of the Hungarian state-owned Corvinus and French co-investor Vinci Airports.
The value of the transaction is €3.1bn (equity value), plus net debt of €1.2bn. The deal gives Vinci Airports a 20% stake and Corvinus 80%.
The residual term of the concession is more than 55 years (expiring in 2080).
“Through this acquisition, Vinci Airports, which has operations in Portugal, the UK, France and Serbia, is reinforcing its network in Europe, which now covers 26 platforms handling nearly 154m passengers in 2023,” the new shareholder said.
In 2023, the airport handled a record cargo volume of 200,000 tons while passenger traffic reached 91% of pre-pandemic levels.
In the first quarter of the year, the Hungarian capital airport handled 61,940 tons of cargo, an increase of almost 40% compared to the same period last year.
Budapest Airport has invested €80m in cargo development over the past five years, creating the BUD Cargo City.
The latest development phase of the complex, which represents a 40% increase in handling capacity, was opened for business at the beginning of the year.
This brings the total warehouse and office space to more than 40,000 sq m and the covered storage area to 1500 sq m, allowing for the handling of special goods, such as temperature-sensitive products or live animals.
It brings the total air cargo handling capacity of the airport to 300,000 tons a year.
The next phase of development, conceptual design and other preparatory works are expected to start this year.
Menzies expands cargo facility at Budapest Airport
