It had been a long time coming, but now it’s done: Budapest Airport is changing hands. New owner is a consortium consisting of Hungarian Corvinus Zrt. (80%) and the French co-investor Vinci Airports (20%). According to local sources, the total equity value of the deal is EUR 3.1 billion, with net debt of EUR 1,2 billion to be added to the amount. Originally, AviAlliance did not want to sell its stakes, as airport ownerships are an important source of income for its parent, Quebec’s Public Sector Pension Investment Pension Fund, to finance pensions. However, constant pressure from the Orban government has now prompted it to sell its majority stake (55,44%) in BUD.
Following the inking of the sales agreement, Gerhard Schroeder, Managing Director of AviAlliance, stated: “Since our initial investment in 2007, Budapest Airport has grown significantly. Together with our co-shareholders, we have invested a total of more than 700 million EUR in the expansion and development of the airport. Thanks to this and to the dedication of its excellent management team and employees, the airport has been internationally recognized for its high-quality service. We are convinced that our investments and development plans provide a solid foundation for continued success under the new ownership.”
Under the ownership of AvíAlliance, Budapest Airport experienced substantial growth in passenger and cargo traffic. In 2023, 14.7 million travelers departed or landed at BUD while air freight throughput surpassed 200,000 tons.
One of AviAlliance’s most important investments was the development of the BUD CargoCity, the first phase of which was inaugurated in 2019 followed by subsequent enlargements. With its numerous handling facilities and office wings for freight forwarders and ground operators, it has put Budapest on the international cargo map. The constant increase in shipment volumes since then is impressive proof of this.
