Frankfurt Airport Services Worldwide (Fraport) has signed an agreement to sell its entire 30 per cent stake in Hannover Airport (HAJ) to iCON Flughafen for EUR 109.2 million
In 2017, the northern German airport handled 16,861 tonnes of cargo, down from just under 19,000 tonnes the year before, and 5.9 million passengers, up 8.5 per cent from a year earlier.
Fraport acquired shares in Flughafen Hannover-Langenhagen (FHLG), the operating company at Hannover airport, first in 1998 when it acquired a 20 per cent stake and then again in 2003 when it acquired a further 10 per cent.
The other 70 per cent of FHLG is held equally by two co-shareholders: The City of Hanover and the Hannoversche Beteiligungsgesellschaft – a wholly-owned company belonging to the State of Lower Saxony.
Fraport currently expects the transaction to be concluded during the next two months.
Stefan Schulte, Fraport AG’s executive board chairman, commented on the divestiture: “For some time, we have received strong interest from the market for Fraport to sell its stake in Hanover Airport.
“This underscores Fraport’s competence in increasing the value of our airport investments, wherever we operate around the world. We achieve this by enhancing operations, infrastructure, and the customer experience. At the same time, we are pursuing the goal to acquire majority stakes in airports or to hold a position of significant influence in these airport companies.”
Schulte added: “Hanover Airport is a solid business with a bright future. It has developed into an important aviation gateway in northern Germany for both passenger and cargo traffic. We would like to thank the other FHLG shareholders and the Hanover region for the excellent cooperation, and we wish them continuing success.”