Hungary’s Budapest Airport, which has been significantly investing in cargo infrastructure in recent years, has a new owner. AviAlliance and the co-shareholders of Budapest Airport have agreed to sell the airport to a consortium comprising the Hungarian state-owned Corvinus and French co-investor Vinci Airports. The transaction is valued at €3.1 billion (equity value), with an additional net debt of €1.2 billion. Vinci Airports will hold a 20% stake, while Corvinus will own 80%.
The concession for the airport extends for more than 55 years, expiring in 2080. Vinci Airports, which operates in Portugal, the UK, France, and Serbia, stated that this acquisition strengthens its European network, now encompassing 26 platforms and handling nearly 154 million passengers in 2023.
Budapest Airport handled a record cargo volume of 200,000 tons in 2023, with passenger traffic reaching 91% of pre-pandemic levels. In the first quarter of this year, the airport handled 61,940 tons of cargo, marking a nearly 40% increase compared to the same period last year.
Over the past five years, Budapest Airport has invested €80 million in cargo development, leading to the creation of BUD Cargo City. The latest development phase, which opened at the beginning of the year, increased handling capacity by 40%. The complex now boasts more than 40,000 square meters of warehouse and office space and 1,500 square meters of covered storage area, enabling the handling of special goods such as temperature-sensitive products and live animals. The total air cargo handling capacity of the airport is now 300,000 tons per year.
Further development phases, including conceptual design and preparatory works, are expected to commence this year, continuing Budapest Airport’s trajectory of growth and modernization.