HNA Group closes acquisition of an 82.5% stake in Hahn Airport
HNA has completed the transaction of acquiring 82.5% control of German Hahn Airport for €15.1 million on 9th August, after the deal was confirmed in March.
HNA Group has sealed the agreement on 1st March this year to acquire 82.5% holdings of Hahn Airport, following rounds of bidding after the government of Rheinland-Pfalz in Germany issued a global tender for the Hahn Airport Equity in September 2016.
In acquiring the Hahn airport, HNA has received subsidies in operation, security, infrastructure and other segments, €25.3 million of the subsidies came from the European Commission approved on 31st July.
Located in Rheinland-Pfalz, Hahn Airport is 125km from Hesse-Darmstadt 's largest city, Frankfurt. Seven passenger and cargo airlines operate fixed scheduled services from the airport. Ryan Airways makes it its only passenger service base in continental Europe. As one of the most important cargo airports in Germany, Hahn Airport is able to support A380 and other large aircraft. It has the capacity to handle an annual passenger throughput of 5 million. Hahn doesn’t impose curfew at night and its air space is not crowded, which make for good flight operation conditions. It is deemed the most competitive trans-regional air freight hub in the region.
The completion of the acquisition not only marks HNA’s official participation in airport operation in the heart of Europe, but also demonstrates EU powers’ positive response to the China’s Belt and Road initiative and their full recognition of HNA’s achievements in the past 24 years.
After closing the transaction, HNA will fully participate in the management and operation of the airport, with due respect the local culture, legislation and integration of the culture and economies of the East and the West. Through the project platform of Hahn airport, it will integrate German and EU resources to develop a comprehensive offshore airport and professional business development platform to achieve rapid global growth, leveraging the strengths of SWISSPORT it acquired earlier, and in support of the Belt and Road initiative.