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Hochtief takes over Hungary’s main airport, promises investment

A consortium led by Germany’s Hochtief AirPort on Thursday promised to pump €261 million ($351.8 million) into Hungary’s main airport over the next five years as it announced it had finalized the purchase of Budapest Airport, the company that runs the facility.

Budapest Airport spokesman Domokos Szollár said in a statement that the new management would focus on “the further development, expansion and modernization of the airport.” Budapest Airport was privatized in December 2005, when Britain’s BAA bought the airport. However, Spain’s Ferrioval took over the British company and sold Budapest Airport to the consortium for €1.9 billion.

“We are very proud of acquiring Hungary’s unique national asset,” said Dr Reinhard Kalenda, the new CEO of Hochtief AirPort. “We have long sought to acquire a stake in this airport because there is great potential.” The airport is one of the busiest in Central and Eastern Europe, and recently announced it had handled over 700,000 passengers in April, a 4.6% increase on the previous year. (