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Hungary wants to include the Qatar Investment Authority in the consortium the government is forming to buy Budapest Airport. The deal to buy the aviation hub is close to being finalized, but the signing could be delayed until next year because the buyers have to agree on the price, Economic Development Minister Márton Nagy told Bloomberg on Monday.
“It is a very complex negotiation,” the Minister said. The government is seeking to agree on a “competitive, market-based price.” Hungary is teaming up with French infrastructure group Vinci SA in the first step of the deal, with the Hungarian state representative seeking to buy a 51 percent stake. The Qatar authority could then join either as a financial or strategic investor, Márton Nagy emphasized.
If the acquisition goes through, Hungary plans to expand the airport by building a third terminal and increasing passenger and cargo capacity,
he added.
Vinci SA and Hungarian state-controlled Corvinus International Investment sought European Union approval for the acquisition last month.
Hungary is seeking to exploit synergies with the co-investor, which is both an airport operator and developer, to build the third terminal,
the minister stressed.
Prime Minister Viktor Orbán had earlier raised the possibility of Qatar’s participation in an interview at the Qatar Economic Forum in May. The Qatar Investment Authority has a stake in Britain’s Heathrow airport as well.
From September 1, 2005, Terminal 1 served low-cost carriers. On March 14, 2012, however, Budapest Airport announced that due to the traffic levels being too low in Terminal 1, it will be temporarily closed. On May 30, 2012, all airlines were moved to Terminal 2.
The Schengen terminal, and formerly the “only” Terminal 2, was inaugurated on November 1, 1985, for the exclusive use of Hungarian Malév Airlines, and was later renamed in 1998 to Terminal 2A. Currently, its check-in hall serves all Skyteam and Star Alliance member airlines. Within its boarding area and arrivals level, it serves all flights to and from the Schengen zone.
Terminal 2B, the non-Schengen terminal, opened in December 1998. Its check-in hall serves all flights of the OneWorld-alliance, as well as many other non-aligned airlines. Check-in desks for flights operated by the Hungarian low-cost airline Wizz Air are also located in this terminal.
Sky Court is a state-of-the-art building between terminals 2A and 2B with five levels. Passenger safety checks were moved here along with new baggage classifiers and business class lounges, such as the first MasterCard lounge in Europe.
Via Világgazdaság, Featured image via Facebook/Budapest Airport