HNA Airport Group, which is owned by HNA Group, has confirmed it has signed an agreement with the Rheinland-Palatinate Ministerial Council to acquire an 82.5 per cent equity interest in Frankfurt-Hahn Airport.
The transaction is valued at approximately €15 million and is expected to close in the second quarter of 2017, subject to certain regulatory approvals. The gateway has been up for sale for a while, but was officially signed off on 1 March.
In recent years, Frankfurt-Hahnhas seen freight volumes plunge. It once handled more than 150,000 tonnes as recently as 2013, but in 2015 the figure fell to 79,000 tonnes and last year it was set to fall further.
A statement from HNA Airport reads: “We are pleased to confirm the signing of a definitive agreement to acquire Frankfurt-Hahn Airport.
“Adding a world-class asset and major European cargo hub like Frankfurt-Hahn Airport to our transportation portfolio is consistent with HNA Group’s strategy of enhancing our leading global platform.
“We look forward to working closely with all key stakeholders to maintain and enhance this facility in its service to the region.”
HNA Airport, a subsidiary of HNA Group, based in the Hainan Province has established management operation and relationships with 13 airports worldwide.