Frankfurt-Hahn Airport sale falls through
07 / 02 / 2023
New buyers are being sought for Frankfurt-Hahn Airport group after a deal with Swift Conjoy fell through.
Currently in administration, the Group was due to be sold to Swift Conjoy, a joint venture between real estate firm Swift Holding and aviation specialist Conjoy Investment Partners.
However, administrators Brinkmann & Partner on Sunday announced that the deal had not been completed, though they added that there was another potential buyer.
A creditors meeting is due to take place later today where options on how to proceed will be discussed.
Insolvency administrator Jan Markus Plathner said: “In the past few weeks we have continued to negotiate intensively and had a purchase contract notarised.
“In addition, we negotiated a second purchase contract with another investor and also had it notarised in case the conditions set out in the first contract were not met.
“The next steps will be decided at the special creditors’ meeting. The further developments in the process are open.”
Reports from Germany suggest that the backup investor is NR Holding, linked to Russian investor Viktor Kharitonin in a deal worth €20m.
Flight operations will continue to be fully continued as part of the insolvency proceedings.
The 2023 summer timetable will include other new European destinations that will be served non-stop from Frankfurt-Hahn.
The airport is mainly used for cargo operations and low-cost carriers such as Ryanair.