Hungary Plans Major Upgrade: New Terminal at Budapest Airport

Hungary is set to build a third terminal at Budapest's airport and enhance road and rail links to the capital. State-owned Corvinus Zrt. and Vinci Airports recently acquired the airport. The project, expected to be ready by 2032, aims to transform the airport into a key hub.

Hungary will construct a third terminal at Budapest Airport and develop road and rail routes connecting it to the capital, according to Economy Minister Marton Nagy. This initiative is part of the government's strategy to transform the airport into a significant hub.

State-owned Corvinus Zrt., in collaboration with French co-investor Vinci Airports, acquired Budapest Airport last month. Corvinus holds an 80% stake, while Vinci holds the remaining share. The new terminal and infrastructure enhancements are slated to be completed by 2032, with an estimated cost of 2 billion euros ($2.16 billion).

Further discussions are ongoing with the Qatar Investment Authority regarding a potential stake of less than 10% in the airport. Additionally, Nagy mentioned that extra taxes on airlines would be phased out starting next year.

(With inputs from agencies.)