Frankfurt-Hahn Airport seems to magically attract problems relating to buyers, because Swift Conjoy GmbH has still not paid the purchase price. The deadline has been repeatedly extended. Insolvency administrator Jan-Markus Plathner is now intensively examining a “Plan B”.
Hunsrück Airport has been in deficit for many years. At some point, the “trip” to Hahn was too colorful for Fraport AG, so the participation was dissolved. The states of Rhineland-Palatinate and Hesse took back the shares, so that the public sector became sole owner again. Despite high subsidies and an extensive range of flights, the airport has not been able to stay in the black for the long term. An attempt at privatization ended in embarrassment, because a supposed investor from China turned out to be a small Chinese tire dealer. Political decision-makers only became aware of the bluff when the purchase price was not paid.
Everything should get better with the HNA Group. This bought in from various companies in the aviation industry around the world. Many, but not all, expected fresh money from investors from China. However, the “Hunter strategy” was financed entirely with loans, i.e. on credit. At some point, the Chinese group collapsed under it and has now been broken up. Frankfurt-Hahn Airport was drawn into the maelstrom and had to file for bankruptcy itself.
So far, the insolvency administrator has succeeded in maintaining flight operations. The lawyer was even able to hire additional employees, but when it comes to selling to the company with which a purchase agreement was concluded, there is a problem. So far, Swift Conjoy GmbH has not transferred the purchase price – despite several extensions of the deadline. Plathner describes this fact to the DPA as annoying and now wants to “examine further measures and alternatives”.
The agency also reports that talks have started with NR Holding, which owns the Nürburgring. This was already interested in the original bidding process, but the contract was not awarded. They do not want to comment officially on the alleged talks between the insolvency administrator and NR Holding. However, it is becoming apparent that the lawyer is intensively committed to a plan B, because hopes are fading that the deal with Swift Conjy GmbH can still be concluded positively.