Budapest Ferenc Liszt International Airport - History - Public To Public-private Ownership (2000–2012)

Public To Public-private Ownership (2000–2012)

In January 2002, in lieu of the liquidated Aviation and Airport Directorate, two new organisations were established. HungaroControl became responsible for air navigation and Budapest Airport Zrt. for operation of the airport. Between 1998 and 2005, passenger figures at Budapest Airport doubled – from 3.9 million to 7.9 million and major investments were called for.

This time, the Hungarian State, sole owner of the airport, opted for a partial privatisation with the integration of a private strategic partner with international experience. In June 2005, the State’s privatisation agency initiated a tender for a concession. Seventy five percent minus one vote of Budapest Airport Zrt.’s shares were to be given to new private owners. The tender was finalised by the end of the year and the British company BAA, owner and operator of the major British airports, took over the management of the airport company.

On 8 December 2005, a 75% stake in Ferihegy Airport was bought by BAA plc for 464.5 billion HUF (approx. 2.1 billion USD), including the right of operation for 75 years. On 20 October 2006, BAA announced intentions to sell its stake in Budapest Airport to a consortium led by the German airports group, HOCHTIEF AirPort GmbH, subject to the consent of the Hungarian State.

On 18 April 2007, the renovation of Terminal 1 at Ferihegy was awarded Europe’s most prestigious heritage preservation prize, the Europa Nostra award. The designers, contractors, builders and investors (the latter being BA) received the joint award of the European Commission and of the pan-European heritage preservation organisation Europa Nostra for the renovation of the protected monument spaces, the central hall, the gallery and the furniture at T1.

One and half years later, in June 2007, there was a change in the management when the new owner of BAA decided to dispose of its shares and sell them to the German company HOCHTIEF AirPort and three financial partners.

On 6 June 2007, BAA and a consortium led by HOCHTIEF AirPort (HTA) formally closed and completed the transaction of the sale of BAA’s shares in Budapest Airport (BA) to the HOCHTIEF AirPort Consortium.

On 16 March 2011, the name of Budapest Ferihegy International Airport was changed to Budapest Ferenc Liszt International Airport.

Sky Court, the new expansion project including shops, restaurants and lounges, also connecting Terminals 2A and 2B was opened on 27 March 2011. In summer that year, the refurbishing of the old terminal parts in T2 began.

Read more about this topic:  Budapest Ferenc Liszt International Airport, History

Famous quotes containing the words ownership and/or public:

    They had their fortunes to make, everything to gain and nothing to lose. They were schooled in and anxious for debates; forcible in argument; reckless and brilliant. For them it was but a short and natural step from swaying juries in courtroom battles over the ownership of land to swaying constituents in contests for office. For the lawyer, oratory was the escalator that could lift a political candidate to higher ground.
    —Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)

    Unjust attacks on public men do them more good than unmerited praise.
    Rutherford Birchard Hayes (1822–1893)