Germany’s Rhineland-Palatinate Interior Ministry has announced the sale of its 82.5% stake in Frankfurt-Hahn airport to Shanghai Yigian Trading Company (SYT), a major Chinese construction company. It is understood that Shanghai Yiqian Trading now plans to buy the remaining 17.5% stake from the German state of Hesse.
The ex-USAF base, which has played host to Ryanair for many years, has always struggled to be profitable but the Chinese buyers are looking to enhance the base's airfreight links and supply China with German produce, particularly foodstuffs.
The purchase comes hot on the heels of other recent Chinese aviation acquisitions, notably those of HNA Group which has had dealings with Virgin Australia, Gate Group and Servair, to name just three enterprises.
