Wheels in motion for Frankfurt-Hahn Airport Group sale once again
21 / 02 / 2023
The sale process of Frankfurt-Hahn Airport Group is gearing up once again as bidders and interested parties have been invited to participate in the investor process.
Currently in administration, the German Group was due to be sold to Swift Conjoy, however, earlier this month it was confirmed the deal had fallen through.
The sale of the Group hasn’t been a straightforward process thus far. Prior to the incompletion of the Swift deal it was announced the sale had been delayed, and not for the first time.
The Group’s insolvency administrator, Frankfurt-based Jan Markus Plathner from Brinkmann & Partner, has now formally invited bidders and other interested parties to participate in the ongoing investor process.
Due date for submitting bids is March 9. A closing is expected to take place by March 26, with the express reservation that the process may also be changed in terms of time and/or conditions.
Commenting on the decision, Plathner said: “In view of the refused approvals and the new expressions of interest, we would like to give potential interested parties the chance to participate the investor process. However, the focus remains on reaching a solution in a timely manner.”
In October 2021, the Group filed for bankruptcy and Plathner was appointed as insolvency administrator.
The following month, merger and acquisition consultancy Falkensteg was appointed to find “one or more investors” to keep the business running.
Flight operations at Frankfurt-Hahn Airport will continue in full as part of the insolvency proceedings.
The 2023 summer flight schedule will include additional new European destinations that will be served non-stop from Frankfurt-Hahn.
Frankfurt-Hahn files for bankruptcy with Senator taking steps to secure operations