Hungarian Airline Malév Collapse Blows Hole In Airport Revenues
- 6 Feb 2012 8:03 AM
"The loss to Liszt Ferenc International Airport operator Budapest Airport by the demise of Malév airlines has not yet been calculated, company spokesman Mihály Hardy announced. There is little chance that a potential new airline alluded to by the government will come into being soon, he observed.
Malév accounted for 36% of the airport’s annual turnover of 9 million passengers, Napi Gazdaság notes.
According to a “white book” on Malév’s past presented by the government in December “the state airline pays Ft 15 billion to Budapest Airport annually.
Without Malév Budapest Airport might face difficulties. In this case, the state would have to pay €1.5 billion, or Ft 450 billion immediately to the airport operator, as stipulated in the privatisation contract.
The white book also states that Malév contributes 10% of the annual revenues of state air traffic controller HungaroControl.
Either the state will have to make up the missing income or HungaroControl will have to raise its prices significantly."
Source: Hungary Around the Clock
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Photo: Budapest Airport
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