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HNA buys 82.5pc of Frankfurt-Hahn airport for US$17.8 million
CHINA's HNA Airport Group has wrapped up the acquisition of an 82.5 per cent stake in Germany's Frankfurt-Hahn airport for EUR15.1 million (US$17.84 million).
Hahn airport in Rheinland-Pfalz state was originally developed as a freight hub, however, its cargo volumes have shrunk over the last four years.
In 2013, Hahn handled 152,000 tonnes of cargo but the figure has since plummeted to below half that level. However, in the first quarter of this year volumes bounced back, soaring 41 per cent year on year to 23,700 tonnes, reported London's Air Cargo News.
Commenting on the acquisition, HNA Group was quoted as saying the purchase would "accelerate the growth of our airport and airport services businesses. This strategic investment will also enable us to increase the value chain and services that we provide through our core global tourism and logistics verticals".
It added: "We believe the airport can become a leading hub of commerce between China and Europe in support of China's 'One Belt One Road' initiative."
Rumours also continue to circulate that HNA could invest in Belgrade airport as well. It also recently invested in Rio de Janeiro's largest airport, Aeroporto Internacional Antonio Carlos Jobim Galea (GIG Airport).
Hahn airport in Rheinland-Pfalz state was originally developed as a freight hub, however, its cargo volumes have shrunk over the last four years.
In 2013, Hahn handled 152,000 tonnes of cargo but the figure has since plummeted to below half that level. However, in the first quarter of this year volumes bounced back, soaring 41 per cent year on year to 23,700 tonnes, reported London's Air Cargo News.
Commenting on the acquisition, HNA Group was quoted as saying the purchase would "accelerate the growth of our airport and airport services businesses. This strategic investment will also enable us to increase the value chain and services that we provide through our core global tourism and logistics verticals".
It added: "We believe the airport can become a leading hub of commerce between China and Europe in support of China's 'One Belt One Road' initiative."
Rumours also continue to circulate that HNA could invest in Belgrade airport as well. It also recently invested in Rio de Janeiro's largest airport, Aeroporto Internacional Antonio Carlos Jobim Galea (GIG Airport).
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