27.01.06
BAA, the UK airport's operator, will spend Ft 65.5 billion to expand two terminals and build a smaller one at its recently acquired Budapest International Airport by 2011. The news was reported in business daily Világgazdaság, who were citing Budapest Airport Chief Executive Chris Woodruff.
BAA, which owns Budapest Airport Zrt, the airport's operator, wants to increase annual passenger traffic to 12 million by 2011 from 8 million in 2005, the paper added. An airport parking lot will also be built and new retailers lured to open shops. In the UK BAA makes the majority of its income from retailing and airport parking.
Retailing is expected to account for 44% of the company's revenues by 2011, up from 38% last year. BAA, operator of London's Heathrow Airport, paid £1.26 billion (more than Ft 455 billion) in December for a 75% stake in Budapest Airport and a 75-year license to operate the airport.
