(CRI) Rheinland-Pfalz state in western Germany has selected three prices and chosen Hainan Airlines of China as the only one for further discussion of the purchase of Frankfurt-Hahn Airport, said state officials.
Hainan Airlines is cooperating with Germany's Africa Development Company (ADC) to buy the airport.
Transformed from military use to a civil airport in 1993, the Hahn Airport has been in a jam for many years. In 2015, the airport had only 2.7 million passengers, yet the number was about 4 million ten years before. It lost 16 million euros in 2015, reported huanqiu.com.
There have been many reports that the airport had been sold. In 2016, three Chinese companies tried to buy Frankfurt-Hahn Airport but the deal was not successful, reported thePaper.
It is said that Hainan Airlines aims to use the airport to help it develop its air cargo business, as the airport is only 120 kilometers away from Frankfurt, an important business, finance and traffic center, reported thePaper.
However, it will not be easy for Hainan Airlines to buy the company as the airlines' ratio of liabilities to assets was more than 60% at the middle time of 2016.
The Chinese company is trying to build a global air service circle. ThePaper calculated that in 2016, the company finished thirteen acquisition projects, and the amount of money spent was over 2.5 billion US dollars.
Lin Zhijie, a civil aviation expert, said that Hainan Airline's strategy is a good basic for its future.
He also said that the main reason that Hainan Airlines wants to buy the airport is so it can change its Chinese cash i nto American dollars more easily and hedge against RMB devaluation.
Hainan Airlines needs to be careful for every step, or it will meet some trouble", said Lin.
Frankfurt-Hahn Airport is currently owned by Heinland-Pfalz and neighboring state Hesse-Darmstadt, and is used mainly by Europe's biggest budget airline Ryanair at the moment.
Source: CRI
from China Travel & Tourism News http://ift.tt/1iB6EFm |  | |  |  |
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