BAA takes 75% stake in business and will run airport for 75 years.
Airports operator BAA has sketched out plans to expand Budapest airport to the size of Gatwick after acquiring a majority stake in the Hungarian terminal.
BAA will take a near-75% stake in the business under a 拢1.26bn deal that will see it run the airport for the next 75 years.
Mike Clasper, BAA chief executive, said that the airport has the potential to handle 40 million passengers a year, compared with its current 7 million. BAA also plans to transform Budapest into a large centre for cargo traffic.
BAA, which is responsible for the Terminal 5 building programme at Heathrow, had interests in 11 international aiports prior to the Hungarian deal. These include a 20% stake in Melbourne airport, Australia.
