Hungary to expand Budapest Airport with third terminal

Shutterstock / Soos Jozsef

Hungary is set to construct a third terminal at Budapest Ferenc Liszt International Airport (BUD) and develop its road and rail links to the capital, Economy Minister Marton Nagy announced during a press conference on July 9, 2024.  

The third terminal, along with the construction of new transport connections, will be built by 2032 at the earliest. It is estimated that the work will cost about €2 billion ($2.2 billion). Currently, Budapest Airport consists of four main areas: Terminal 1, Terminal 2A, Terminal 2B and a large central waiting and shopping area called SkyCourt Lounge.  

In June 2024, the former major shareholder AviAlliance, a subsidiary of Public Sector Pension Investment Board (PSP Investments), along with co-owners GIC and CDPQ, sold the airport to the Hungarian state-owned company Corvinus Zrt. and French co-owner Vinci Airports. Corvinus Zrt. is the majority owner, holding an 80% stake, while the French company holds the remaining 20%.  

Nagy also said  there was a possibility of involving a Qatari investment fund as a third investor in the airport. 

Budapest Airport experienced substantial growth in passenger traffic under its previous ownership. According to an official statement published by PSP Investments in June, 2024, BUD achieved 91% of its pre-pandemic levels in 2023, surpassing the European average with 14.7 million travelers.  

With a third terminal, passenger traffic at the airport is expected to reach 25 million a year by 2040. 

Former shareholders have invested more than €700 million ($770 million) in the expansion and the development of the airport since 2007. 

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