Budapest Airport to buy Malév's fuel-handling unit
Monday, June 27, 2005, 06:02
Budapest Airport Rt, operator of the Hungarian capital's international airport, will buy the fuel-handling unit of state-owned airline Malév Rt for 5 billion Ft, daily Magyar Hírlap reported. Budapest Airport, in which Hungary wants to sell a majority stake this year, will also write off 3 billion Ft of Malév's outstanding debt. The agreement to buy the national carrier's profitable unit may boost the airport operator's earlier estimated price tag of 100-120 billion Ft. While the fuel-handling unit sale will also improve the financial situation of unprofitable Malév, which is also being sold by the government, the airline will pay 1 billion Ft more to Budapest Airport for services next year.