The concession of Budapest Liszt Ferenc International Airport was acquired from a consortium of sellers composed of AviAlliance, Malton and CDPQ. The value of the 100% transaction is €3.1bn (equity value), plus net debt of €1.2bn. EBITDA in 2023 was €211m. VINCI Airports and Corvinus purchased Budapest Airport on a pro rata basis and rolled over the existing debt of the company. The residual term of the concession is over 55 years (expiring in 2080). On completion of the transaction, Corvinus will own 80% of the concessionaire and VINCI Airports 20%.
Budapest Airport handles 96% of the country's air traffic. In 2023, traffic reached 90% of its pre-pandemic level, while in the first four months of 2024 it exceeded 2019 traffic by more than 8% and 2023 traffic by 19%.
As operator, VINCI Airports aims to improve the customer experience and support traffic growth through appropriate investment. An ambitious action plan will also be rolled out to achieve net zero emissions by 2030.
Through this acquisition, VINCI Airports, which has operations in Portugal, the United Kingdom, France and Serbia, is reinforcing its network in Europe, which now covers 26 platforms handling nearly 154 million passengers in 2023.
