Frankfurt-Hahn Airport GmbH
| Frankfurt-Hahn Airport GmbH | |
|---|---|
| legal form | GmbH |
| Seat | Lautzenhausen - Hahn Airport |
| management | Managing Director : Hexin Wang |
| Branch | Airports |
| Website | www.hahn-airport.de |
The Frankfurt-Hahn GmbH is the operator of the Frankfurt-Hahn airport in Hunsrück . The share capital is currently 50 million euros.
Ownership structure
With a stake of 73.06%, Fraport was the majority owner of the Frankfurt-Hahn operating company until December 31, 2005. The remaining airport shares were held by the federal state of Rhineland-Palatinate . At the end of 2005 a new ownership structure was implemented. The state of Hesse became the third owner. Up to December 31, 2008, Fraport still owned 65% of the airport shares (worth around € 75 million). The states of Rhineland-Palatinate and Hesse each held 17.5%. The original logo of the airport was adapted to that of Fraport on December 12, 2006 in order to specifically identify the group affiliation.
In February 2009, the State of Rhineland-Palatinate took over the Fraport AG share for a symbolic purchase price of one euro. This happened retrospectively as of January 1, 2009. After taking over the shares, the State of Rhineland-Palatinate owned 82.5% of the shares and the State of Hesse 17.5% of the shares.
At the beginning of June 2016, the state of Rhineland-Palatinate sold its stake to the Chinese Shanghai Yiqian Trading . The state of Hesse negotiated the sale of its stake in the airport with the same company. In order for the contract negotiated with the Chinese company to become valid, the Rhineland-Palatinate state parliament had to agree. Before the appropriate vote, doubts arose about the seriousness of the buyer. Research showed that the company is hardly known in China, as are the investors who are supposed to be behind it. A visit to the specified company headquarters heightened the concerns. After the company let a deadline for submitting relevant evidence pass unused, the state government suspended the sale on June 29, 2016.
After the sale of the airport was canceled, a new three-stage sales process was opened. On March 1, 2017, the state of Rhineland-Palatinate confirmed the sale of its majority stake to the Chinese HNA Airport Group , while the state of Hesse canceled the notary appointment with the German HNA partner, ADC GmbH from Deidesheim, at short notice. After the EU Commission announced on July 31, 2017 that the guidelines for subsidies from the state of Rhineland-Palatinate until 2024 were justified by a solid business plan by the HNA Airport Group, so that airport operations would be profitable again from 2023, the management became the airport Frankfurt-Hahn GmbH handed over to the HNA Airport Group.
Key figures
Gains and losses
The balance sheets for the entire history of the company have so far only shown negative results, even though the operating breakeven point was exceeded for the first time in 2006.
According to the respective annual reports of Flughafen Frankfurt-Hahn GmbH or its predecessor companies, the losses in the individual years were:
| year | Profit loss |
|---|---|
| 1997 | - € 5,934,952 |
| 1998 | −6,606,508 € |
| 1999 | −13,257,687 € |
| 2000 | −10,017,436 € |
| 2001 | −13,355,347 € |
| 2002 | −19,993,695 € |
| 2003 | - € 17,832,868 |
| 2004 | - € 16,797,889 |
| 2005 | −16,328,265 € |
| 2006 | −16,066,610 € |
| 2007 | −15,760,000 € |
| 2008 | −16,945,000 € |
2007 and 2008: The Frankfurt-Hahn GmbH annual report is not published in the Federal Gazette. The figures for 2007 and 2008 come from the Fraport AG annual report. The losses of Flughafen Frankfurt-Hahn GmbH were taken over in full by the parent company Fraport until December 31, 2008 within the framework of a profit and loss transfer agreement.
Other operating expenses
Conclusions can be drawn from the "other operating expenses" shown in the profit and loss accounts of Flughafen Frankfurt-Hahn GmbH. According to the explanations in the annexes to the individual annual reports of Flughafen Frankfurt-Hahn GmbH, they contain in particular costs for marketing measures , disposal costs, advertising costs ...
The other operating expenses in the individual years were:
| year | sb expenses | comment |
|---|---|---|
| 1998 | 0 € | |
| 1999 | € 3,140,209 | Start of flight operations by the airline Ryanair . |
| 2000 | € 6,089,371 | |
| 2001 | € 5,692,808 | |
| 2002 | € 11,434,307 | Hahn becomes the base of Ryanair. |
| 2003 | € 10,521,273 | |
| 2004 | € 11,454,363 | |
| 2005 | € 14,058,148 | Expansion of flight operations by Ryanair. |
| 2006 | € 12,885,275 | |
| 2007 | not shown | |
| 2008 | not shown |
It is known that Flughafen Frankfurt-Hahn GmbH provides Ryanair with marketing support.
Operational breakeven point
In 2006, the operating company exceeded the operating breakeven point for the first time. The operating result was 0.4 million euros (+2.9 million euros compared to the previous year).
This statement is put into perspective to a considerable extent by the following statements in the Frankfurt-Hahn GmbH annual report:
The annual result benefited from the capitalization of a provision for contaminated sites (€ 692 thousand) on land, which was carried out as part of the remediation of contaminated sites.
... as well as claims against the shareholder Rhineland-Palatinate; ... T € 715 income subsidies
Without these special factors, the breakeven point would not have been reached in 2006; instead, a result of around € 900,000 would have had to be reported. In addition, the annual report for 2006 shows that the two managing directors of Flughafen Frankfurt-Hahn GmbH do not receive any remuneration from Flughafen Frankfurt-Hahn GmbH.
proceeds
In 2006 it was possible to increase sales to 43.5 million euros (+6.6 million euros compared to the previous year). This means that sales have tripled in the last four years up to 2006. However, this is still associated with an annual loss (after taxes) of around EUR 15.7 million (as of 2008). A positive annual result was initially expected until 2009. The main reason given for the losses was that in 2006, due to a long nature conservation process, the extended runway was put into operation late, according to Managing Director Wulf at the time. Other causes in the 2007 financial year are the reduced income from the de-icing business due to the mild winter and the slight decline in cargo business due to the sharp decline in military flights. As the tables above show, the intended goals were never achieved.
Others
So far, the GmbH has been working with start-up financing from the public sector, above all from the Rhineland-Palatinate state government, in order to cover the necessary costs.
swell
- ↑ hahn-airport.de: Frankfurt-Hahn GmbH .
- ↑ New logo in: Press release Flughafen Frankfurt-Hahn GmbH, December 12, 2006
- ↑ Fraport transfers Flughafen-Hahn shares to Rhineland-Palatinate . FAZ, February 3, 2009, accessed on September 1, 2013
- ↑ https://www.rlp.de/de/aktuelles/einzelansicht/news/detail/News/kaufvertrag-unterzeich/
- ↑ Dubious buyer in China: Sale of Hahn Airport apparently on the brink. Spiegel Online, June 29, 2016, accessed on the same day
- ↑ Matthias Barsch: Hahn in the Hunsrück: Malu Dreyer threatens airport disaster. Spiegel Online, June 29, 2016, accessed on the same day
- ↑ FAZ.net March 1, 2017
- ↑ heute.de: "Solid economic plan": EU approves state aid ( memento of the original from August 1, 2017 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Annual reports of Flughafen Frankfurt-Hahn GmbH and its predecessor companies, deposited from 1997–2005 at the registry court in Bad-Kreuznach, published from 2006 at http://www.ebundesanzeiger.de/
- ↑ Positive operating result for the first time in: Press release Flughafen Frankfurt-Hahn GmbH, January 25, 2007
- ↑ Annual Report Flughafen Frankfurt-Hahn GmbH, page 2, last sentence
- ↑ Annual Report, page 12
