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Budapest Airport closes worst year ever in 2020
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Budapest Airport, the operator of Budapest’s Liszt Ferenc International Airport, closed its worst year on record in 2020, the operator said on Friday.
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The company was 110 million euros in the red at the end of the year, with 118 million euros net revenue, down 65 percent from 2019, the statement said. The owners of Budapest Airport have ploughed the 2019 profits into crisis management, it said adding that
the company financed its operation from its own resources and, to a lesser degree, from market-based resources.
Budapest Airport also implemented developments to the tune of 81 million euros, it said.
As we reported before, the Hungarian government wants to buy the Budapest Airport. Based on government-close Magyar Nemzet,
PM Viktor Orbán would like to buy it back for the state because it is one of the most important elements of developing the economy and tourism.Â
The airport is currently run by Budapest Airport, which Ferenc Gyurcsány’s government sold in 2005 to ease the budget crisis. The 75-year-long concession contract provided strong protection for the investors. For example, all income from airport services belong to them, Magyar Nemzet says. The share of the state from the airport’s revenue is only 0.5 pc. The government tried to buy the majority holding of Budapest Airport after 2010 several times, but they were not successful. In 2011, the state utilised its purchase option over a 25 pc share segment.