Insolvency Administrator looking for investors for Frankfurt-Hahn
The provisional insolvency administrator for the Frankfurt-Hahn Airport Group has commissioned consultancy firm Falkensteg to look for one or more investors for it or any of its assets, including property.
Investors have the option of acquiring all assets, units to be defined or single assets, which include Frankfurt-Hahn Airport.
Located in Rhineland-Palatinate, the airport’s facilities are said to include “various operating properties and expansion areas, a 3,800-metre runway, as well as a 24-hour operating permit which enables flight operations around the clock, 365 days a year”.
A handful of airlines operate passenger flights from the airport, which also has global cargo connections.
The airport boasts hangars with a separate truck access road that are ready made for available for accommodating the movement of air cargo, which it is noted has steadily increased in volumes since 2017.
Indeed, Frankfurt-Hahn handled around 233,000 tonnes of cargo in 2020, making it the fourth busiest cargo gateway in Germany after Frankfurt, Leipzig/Halle and Cologne/Bonn.
It is hoped that the airport’s location at the centre of one of the most important economic areas in Europe – the so-called ‘Blue Banana’ stretching from Marseille to London via Switzerland, western Germany and the Benelux countries – will attract strong interest from investors interested in acquiring Frankfurt-Hahn.
Previously owned by both global airport operator, Fraport AG, and the local community, its owners today are China’s HNA Group, which has a majority 82.5% stake in the Frankfurt-Hahn Airport Group, and the State of Hesse, which has a 17.5% shareholding.
The airport filed for bankruptcy last month.