Fraport sells Germany’s Hahn airport for €1

Fraport AG has sold Frankfurt-Hahn, one of Germany’s leading all-cargo airports, for the symbolic price of €1. The company, which also owns Frankfurt-Main airport, Europe’s biggest cargo hub, sold its 65 per cent stake in Hahn to the German federal state of Rhineland-Palatinate. Fraport said the deal, effective 1 January, ends all its financial obligations […]


cargo Frankfurt-Hahn Airport Fraport Ryanair


Fraport AG has sold Frankfurt-Hahn, one of Germany’s leading all-cargo airports, for the symbolic price of €1. The company, which also owns Frankfurt-Main airport, Europe’s biggest cargo hub, sold its 65 per cent stake in Hahn to the German federal state of Rhineland-Palatinate. Fraport said the deal, effective 1 January, ends all its financial obligations to Hahn, which had operated at a loss for several years. Traffic at Hahn fell 11 per cent in 2008 from the previous year to just under 124,000 tonnes. It also annually handles nearly 4 million passengers annually. Fraport decided to sell its stake after its biggest customer, Irish discount airline Ryanair, threatened to leave Hahn if it introduced a passenger tax as part of a plan to cut losses.