As of May 30th all flights arriving and departing from Budapest uses Ferihegy 2, or Liszt Ferenc International Airport Terminal 2 (A and B). The plans are to keep terminal 1 closed for 4-5 years until traffic reaches normal amount again (after the bankruptcy of Malév), and when traffic is back as usual terminal 1 will be opened up again.
The advantage of using Terminal 2 is the fact that you can enjoy the services at the Sky Court with much larger areas for shopping and services after check-in. The disadvantage is the fact that the terminal is located a bit (appx. 4km) further away from the city center.