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Auto Shows: Aviation: Frankfurt-Hahn Airport is insolvent - many questions remain open

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The regionalairport has not only made the Coronapandemie. The main owner HNA has massive economic problems.

Der Regionalairport in Rheinland-Pfalz hat Insolvenz angemeldet. © DPA The RegionalAirport in Rhineland-Palatinate has filed for bankruptcy.

After years of turbulence, the only larger airport in Rhineland-Palatinate has filed for bankruptcy despite recent growth in the freight business. Frankfurt-Hahn GmbH Airport submitted the request to the district court of Bad Kreuznach, as Hahn Operations Manager Christoph Goetzmann announced on Tuesday of the German Press Agency.

According to the court, this has also done four other affiliated companies: JFH Jet Fuel Hahn GmbH, HNA Airport Services GmbH, Hn Airport Technology GmbH, and Hn Aviation Security GmbH. For the provisional insolvency administrator, in all cases, the district court ordered the renovation and insolvency experts Jan Markus Plathner from the Frankfurt Office of the nationwide law firm law firm Brinkmann Ampersand partner. Previously, had reported the "Wirtschaftswoche" about it .

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The Rhineland-Palatinate CDU Secretary-General Jan Room spoke of a "shock for the airport staff and the entire region". Operating Manager Goetzmann said, for the time being, machines started in the Hunsrück. With a view of the business, he supplemented: "I fight for the continuation." But at the helm is now plathner.

The Rhineland-Palatinate Interior Ministry pointed out that the opening of insolvency proceedings does not automatically mean the recruitment of operational operation, "especially if appropriate business is present". The preliminary insolvency administrator will "first examine the situation of insolvent companies and carry out the business of the company according to the bankruptcy regulations".

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What the insolvency has ultimately triggered remains open for the time being. However, it is obvious that it was the mixture of the massive economic problems of the main owner, of the Chinese HNA Group , and the consequences of the pandemic.

The airport, located about 120 kilometers west of Frankfurt am Main, has been 82.5 percent of a subsidiary of the HNA Group since August 2017. But this has been bankrupt since the beginning of the year. The state of Hesse still stops 17.5 percent at the airport company.

The management of the airport had been hoping for a long time that the bankruptcy of the major shareholder would largely pass on the regional airport. The last available numbers seemed to confirm that too. Thus, the cargo business - an important pillar for the airport - grew according to data of the airport association ADV in August compared to the same month of the previous year by 17.5 percent to 22,288 tonnes.

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traffic numbers last in Hahn again

also the passenger business returns slowly, as Goetzmann recently reported the DPA. The former US military airport depends heavily on tourism and here of goals such as the Balearic Islands, Canaries and Italy.

According to the statistics of the ADV, the airport was able to increase the number of passengers in August compared to the same month last year by 86.4 percent to 110,665. Also, it was managed to manage the airport without aid and without a short time through the long crisis.

However, in the end, it should always be more difficult to secure the necessary liquidity without supporting the HNA group. Especially because the medium-term prospects are not particularly good. Thus, the Federal Gazette can be seen that management assumes to be able to achieve a positive consolidated net income until 2024.

Already in the summer, the Damocles sword hovered a bankruptcy over the airport. An unknown creditor had submitted request for bankruptcy, but later withdrawn later.

The pandemic is currently heavily relying on the regional airports, which as Frankfurt-Hahn has been dependent on subsidies anyway anyway. For example, Paderborn Airport had to sign up for bankruptcy, but the procedure has now left and working on a reboot with significantly reduced team.

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