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The Ministry of Economic Development has taken the initiative to amend the aviation law. This makes it increasingly certain that Budapest Airport will be taken over by a state-owned company, reports Világgazdaság.
A draft law amending certain laws on economic and property management has been published on the government website, prepared by the Ministry of Economic Development. The relevant documents have been published for public consultation, with a deadline of October 25 for anyone to comment.
A brief summary of the content of the proposal sets out three aspects as the reasons for the amendment. The second reason seems to be the most relevant from the point of view of the aviation law. It is intended to clarify the provisions of the law amending the law on national and state property, supplementing the rules on property management.
This point involves amending the aviation law by adding a chapter and a paragraph to the legislation. To summarize, it states that
the operation of an international commercial airport owned by the state may be entrusted to a company under the control of the state.”
If this happens, the provisions of the law on the more economical operation of publicly owned companies will not apply to this state company. Nothing more is said in the explanatory memorandum, but it seems clear that the change implies the state take-back of Budapest Airport Ltd.
It is not known what the purchase price might be, but the press tends to refer to EUR 4 billion. Even if this is the case, it is important to note that a significant part of this would be a loan of around EUR 1.5 billion, i.e. roughly EUR 3 billion would have to be paid. This would mean that the Hungarian state is preparing for its biggest deal ever.
Via Világgazdaság, Featured image: Facebook/Budapest Airport