August 10, 2017
China’s HNA Group acquires 82.5% stake in Frankfurt-Hahn Airport
HNA Group Co., (HNA), the Chinese conglomerate headquartered in Haikou, Hainan, China has continued with its European expansion program with the acquisition of an 82.5% stake in Frankfurt-Hahn Airport at a cost of US$15.8 million. The successful bid was made back in March this year and received European regulatory approval. The stake was owned by the Rhineland Palatinate. HNA confirmed that it was in receipt of subsidies, including US$26.5 million which received EU approval. It is understood that HNA will also be bidding for the 25-year right to control Belgrade Airport. Currently the Group operates 13 domestic airports in China, including Haikou Meilan International, Sanya Phoenix International, Yichang Sanxia and Anqing Tianzhushan.
In the first six months of 2017, Frankfurt-Hahn Airport saw firm increase in its cargo business with record growth of more than 50%. It handled 49,000 tons of freight between January and June – a gain of 52% compared with the first six months of 2016. HNA was founded in 2000 and is involved in aviation, real estate, financial services, tourism and logistics, as well as other industries. It is also part owner of Grand China Air (Hainan Airlines), China’s fourth-largest airline.