New buyer found for Frankfurt-Hahn Airport
04 / 04 / 2023
Frankfurt Hahn Airport has found a new buyer in the shape of German real estate firm Triwo.
The purchase price, which has not been disclosed, has already been transferred to an escrow account.
The conclusion and execution of the agreement are subject to conditions but both parties assume that these will be “fulfilled promptly”.
All of the airport’s 400 employees will be transferred to the airport’s new owners.
The airport is mainly used for cargo operations and low-cost carriers such as Ryanair.
Peter Adrian, chief executive of Triwo, said: “We consider the future prospects of Frankfurt-Hahn Airport to be good. That is why we want to make targeted investments in the airport infrastructure, achieve further growth in passenger and freight traffic and implement sustainable real estate development.
“The business location Rhineland-Palatinate as a whole will also benefit from this.”
Insolvency administrator Jan Markus Plathner said: “The bidding process is concluded successfully with the fulfilment of all conditions for completion and the sale to Triowo.
“The four creditors’ meetings and the creditors’ committee of the main company each voted unanimously for the bid with the highest purchase price.
“Flight operations will continue under the insolvency proceedings until the contractual conditions are met, and will then be taken over by the acquiring company. This is expected to take place within a few weeks.”
He added: “All bidders last in the process would have led the airport into a good future. In the end, the amount of the purchase price was decisive.”
Triwo has interests in commercial and industrial real estate, automotive testing, mechanical engineering and airports.
Its airfield sites include Zweibrucken, Egelsbach, and Oberpfaffenhofen.
The airport company has been in administration since 2021 and a previous deal to purchase the airport fell through earlier this year.
In the meantime, the administrators say they have implemented restructuring measures and the airport can now be operated without losses.
“We have implemented a whole bundle of reorganisation measures that have made Hahn Airport more attractive again for airlines and passengers and have made it possible to ultimately continue business operations without losses within the framework of the insolvency proceedings, thus laying the foundation for a sale,” said Plathner.
“I am pleased that together we have managed the turnaround after a sometimes rocky road, and I would like to personally thank all employees, the works council and their advisors for their professional and strong commitment during this challenging time. However, it is now also important that a new operator takes the helm.”
Wheels in motion for Frankfurt-Hahn Airport Group sale once again
