Gov't makes non-binding offer for Budapest Airport - report

Government

Image by Budapest Airport

Hungary's government has made a non-binding offer to buy Ferenc Liszt International operator Budapest Airport, news agency MTI reports, citing an article by conservative daily Magyar Nemzet.

Magyar Nemzet learned from industry insiders that Budapest Airport's owners said the government's non-binding offer was "below market value". The paper said Budapest Airport's owners had "rejected outright" the sale until recently.

Innovation and Technology Minister László Palkovics declined to comment on an ongoing matter when asked by Magyar Nemzet.

Hungary's government issued a mandate for Palkovics to start talks on reacquiring a majority stake in Budapest Airport in the spring.

"If the Hungarian state can again implement its positions regarding economic, transport and tourism development, as well as sustainability, in the operation of the biggest airport in Hungary, as an owner, it could contribute significantly to improving Hungary's competitiveness," the Innovation and Technology Ministry said at the time.

The ministry added that Liszt Ferenc International "shapes many foreign visitors' first impression" of Hungary and noted the "significant role" of further enhancing tourism in the economic recovery.

Budapest Airport is owned by Canadian airport management company AviAlliance (55.44%), Singapore's state investment fund GIC (23.33%) and Canadian pension fund Caisse du Quebec (21.23%).

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