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AviAlliance, GIC and CDPQ sell Budapest Airport to consortium
Transactions - JUNE 10, 2024

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AviAlliance, GIC and CDPQ sell Budapest Airport to consortium

by Kali Persall

AviAlliance, an airport management company headquartered in Germany, along with GIC and CDPQ, the co-shareholders of Budapest Airport, have sold the airport to a consortium consisting of the Hungarian state-owned Corvinus Zrt. and French co-investor Vinci Airports. Financial terms were not disclosed.

Under the ownership of AviAlliance, GIC and CDPQ, Budapest Airport experienced substantial growth in passenger traffic, nearly doubling the passenger total from 8.4 million in 2008 to 16.2 million in 2019. In 2023, with 14.7 million passengers, Budapest Airport reached 91 percent of its pre-pandemic level, above the European average, and set a new air cargo record with more than 200,000 tons.

“Since our initial investment in 2007, Budapest Airport has grown significantly,” said Gerhard Schroeder, managing director of AviAlliance, which was previously the biggest shareholder in Budapest Airport. “Together with our co-shareholders, we have invested a total of more than

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