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zolee1
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« on: June 10, 2005, 11:31:37 AM » |
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Hungary?s State Privatization and Assets Holding Co., also known as APV, recently announced that it plans this year to sell about 75 percent of a major Airport.? Credit Suisse First Boston (CSFB) has been tapped as the privatization advisor and is expected to recommend either an IPO or direct sale to a strategic investor.?
News reports have indicated there are at least 10 organizations that have expressed interest in the deal, including the operators of the Copenhagen Airport (Kobenhavns Lufthavne), the Heathrow Airport in London (British Airport Authority), and the Frankfurt Airport (Fraport AG).? Two Spanish companies and U.S. financial powerhouse AIG have also reportedly shown interest.
This airport has been one of the fastest growing airports in Central-Eastern Europe.? In 2004, the number of passengers reached 6.46 million, up 28.6 percent from the previous year, with traffic helped substantially by the increasing presence of low-cost airlines.? Passengers of low-cost airlines totaled some one million, up tenfold from 2003. While in 2003, just two budget airlines operated flights to Hungary, there were already eight with regular flights at the end of 2004.? Also, cargo traffic grew by 20.3 percent, to 80,000 tons in 2004.? The airport is expected to see 18 and 10 percent growth in passenger volume and cargo, respectively, in 2005.
The upgrade of Terminal 1, which is used by low-cost airlines, is to be completed by June 2005, with an increased capacity of 2-2.5 million passengers.? And development of the third terminal (2C) is to be completed by 2009, though this is subject to the approval of the new owner.
Please note: the bidding opportunity will close on June 28!
Tina M. Dante
+1-703-641-9804
+1-703-641-9805 FAX
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