Airport Service Budapest Plc. (AS Budapest) and Menzies Aviation Hungary Ltd. will merge their activities to provide ground handling, cargo and lounge services at Budapest’s Ferenc Liszt International Airport as one company, pending approval by the competition authority, in order to provide more efficient and competitive services, AS Budapest told MTI.
AS Budapest Plc. acquired a 35% stake in Menzies Aviaton Hungary Kft. The name of the company remains Menzies Aviaton Hungary Ltd.
The statement said that AS Budapest is the ground handling agent for several major airlines at the Hungarian capital’s Ferenc Liszt International Airport. Its activities include passenger, cargo and aircraft handling, but it also provides aviation security and other airport services, such as the operation of the Skycourt Lounge.
Menzies Aviation Hungary Ltd. has a strong international customer base through its parent company, Menzies Aviation, which is the world's largest airport ground handling company in terms of number of countries, airports and aircraft.
According to publicly available company information, Menzies Aviaton Hungary Ltd. achieved a net sales revenue of HUF 6.8 billion in 2022, up from HUF 3.4 billion in the previous year. Its profit after tax in 2022 was HUF 392 million, compared to a loss of HUF 472 million a year earlier.
Airport Service Budapest Plc. recorded net sales of HUF 7.3 billion in 2023, compared to HUF 7 billion in the previous year, and its pre-tax profit was HUF 1 billion negative last year, compared to a loss of HUF 692 million in the previous year.
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