BUDAPEST, June 6 (Xinhua) -- Hungary has regained majority ownership of Budapest Airport after more than a year of negotiations, reversing a 2005 privatization deal.

"We've reclaimed the airport, it's back in Hungarian hands," said Marton Nagy, minister for national economy, in a statement released Thursday afternoon.

The acquisition cost 3.1 billion euros (3.35 billion U.S. dollars), with the Hungarian government securing an 80 percent stake and French firm Vinci holing the remaining 20 percent, according to the statement.

The Budapest Airport, offering 131 direct flights operated by 39 airlines in 2023, is continuously expanding its route network. Passenger traffic surged to a record 16.2 million in 2019 and by the end of 2023, the airport had recovered over 90 percent of its pre-pandemic traffic levels.

Furthermore, cargo handling volumes have demonstrated remarkable growth in recent years, exceeding 201,000 tons annually.

The Hungarian government and Vinci Airports will work to elevate the Budapest Airport to a world-class standard, enhancing its role as a hub for tourism and freight services in the region, the statement added. Enditem

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