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BAA to cut Budapest Airport landing fees

BAA Plc, the world's largest airport operator, said it will cut landing charges at Budapest Ferihegy International Airport as it seeks to maintain an acceleration in traffic growth at Hungary's busiest airport. The fees will be cut by 5%, with the reduction backdated to Jan. 1, London-based BAA said in a PRNewswire statement. BAA also said it will cut an unspecified number of jobs at the airport after reaching an agreement with local labor unions. BAA in December agreed to pay Ł1.26 billion (more than Ft 450 billion) for a 75% stake in Budapest Airport to tap into increasing travel in Eastern Europe. Passenger numbers at the Hungarian capital's airport in January rose 15% from a year earlier to 520,307 travelers, BAA said today. The company has already made “great strides to make Ferihegy more competitive and attractive to airlines,” CEO Mike Clasper said in the statement.