The Hungarian government wants to buy the rights to operate Ferihegy airport, daily Népszava said on Friday citing information by daily Magyar Nemzet. the government expects the purchase to be easier because of the coronavirus pandemic, which caused Budapest Airport to close its worst year in 2020.
Last summer, Indotek Group managing director Dániel Jellinek made on offer on behalf of Hungarian and to a lesser extent American investors to airport operator Budapest Airport but the Canadian and Singaporean owners refused to sell, the paper said.
According to the paper’s information, further talks about the potential sale will be handled by the minister of innovation. The government expects that Budapest Airport will be easier to acquire as a result of the weakened state of the aviation industry caused by the coronavirus pandemic, it said.
The company has generated several tens of billions of forints in revenues for years but significant loan stock and dropping revenues could make it an easier target of acquisition, the paper said. In 2019 profits totaled 30 billion forints (EUR 85m) but last year’s figures are not yet available, it added.
Budapest Airport closes worst year ever in 2020
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.
Featured photo illustration by Zoltán Balogh/MTI