China's HNA Group in final negotiations to purchase German's Hahn Airport

People's Daily Online | Updated: 2017-01-25 11:05

China's HNA Group in final negotiations to purchase German's Hahn Airport

A passenger walks past the terminal of Frankfurt Hahn airport 100 kilometers west of Frankfurt, Germany, on June 6, 2016. [Photo/Agencies]

China's HNA Group, the owner of Hainan Airlines, teaming up with local German company ADC, is in final talks on purchasing Hahn Airport that locates in western Germany, according to Reuters on Monday.

The federal state of Rhineland Palatinate owns an 82.5 percent stake in Hahn, with the rest owned by the neighboring state of Hesse. In the latest sale process, three bids had been already received. But auditors had reviewed the offers and resolved to have HNA and ADC enter into final negotiations.

Hahn Airport, a former military base now used mainly by Ryanair, was troubled for years, and in 2015, it lost about $17 million. Hahn Airport has been on the market for a while. In 2016, it's said Shanghai Yiqian Trading Company was going to buy it for $10 million US dollars but intervened by Rhineland Palatinate.

Even with an asset-liability ratio of 67.38 percent in 2016, HNA has been active in the travel industry with 13 deals announced and accomplished last year, worth $25 billion US dollars.

Civil aviation expert Lin Zhijie told reporter that the devaluation of the RMB and abundant global capital better supported HNA's bid for Hahn Airport.

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