China's Shanghai Yiqian Trading Company has acquired a majority stake in Frankfurt Hahn airport a local German government statement has confirmed.
The transaction, whose value was estimated in the "low double-digit million euro range", involves the sale of the German state of Rhineland-Palatinate's 82.5% shareholding in the airport.
Last week, several media outlets reported that of the three Chinese firms bidding for the airport, Cargolux (CV, Luxembourg) shareholder, the Henan Civil Aviation Development and Investment Co. (HNCA), had been chosen. HNCA later put out a statement denying it had ever had any interest in the facility.
For its part, the Shanghai Yiqian Trading Company has interests in several areas including logistics, international trade, and aviation. In fact, legal representative Dr. Yu Tao Chou played a significant role in the internationalization of local freight operator, Yangtze River Express (Shanghai Hongqiao).
Frankfurt Hahn caters to both the passenger and cargo markets. Of the cargo operators, Etihad Airways (EY, Abu Dhabi International), NCA - Nippon Cargo Airlines (KZ, Tokyo Narita) and Silk Way West Airlines (7L, Baku Heydar Aliev International) are the most prominent while Ryanair (FR, Dublin International) and Wizz Air (W6, Budapest) form the bulk of its passenger segment.
