Germany: China’s HNA Group to buy 82.5% stake in Frankfurt-Hahn Airport

HNA Group, the parent of Hainan Airlines, is expected to purchase an 82.5% stake in Frankfurt-Hahn Airport in western Germany as the company steps up its international expansion. The airport’s federal state owners Rhineland Palatinate, which owns the 82.5% stake, said both sides are ready to sign the deal. The transaction amount has not been disclosed, but the deal is reportedly worth about E15m (US$15.8m). As Frankfurt’s second biggest airport, Hahn is used mainly by freight and LCC, with Ryanair and Wizz Air its two largest operators. It is Rhineland-Palatinate’s second attempt to sell the loss-making Hahn airport. In 2016, a deal with Chinese aviation and logistics group Shanghai Yiqian Trading collapsed after the bidder failed to make any payments after agreeing to a purchase price of $14m. <br/>