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ÁPV confident court will allow Airport sale

Privatization agency ÁPV Rt said yesterday it plans to go ahead with the privatization of Budapest Airport Rt according to the original schedule, daily Napi Gazdaság reported. ÁPV said it was confident that a higher court would soon decide in its favor. The statement came after the Budapest Labor Court invalidated an ongoing tender for a 75%-minus-one-vote stake in the Ferihegy airport operator in a lower court ruling taken on August 29. The statement implies, but does not explicitly says, that ÁPV has appealed the ruling in a higher court. ÁPV said that it has started preparations for a new tender in case the expected favorable court ruling comes late. The deadline for submitting final bids in the two-round tender is November 2.