Fraport AG, operator of Frankfurt Airport, the largest airport in Germany and the third largest in Europe, has launched its joint venture (JV) with China’s Xi’an International Airport, the biggest in Shaanxi Province.
Frankfurt-headquartered Fraport AG, which holds a 24.5% shares in this airport, is the first foreign airport operator to invest in a non-listed airport company in China.
China West Airport Group invested RMB 1.02 billion, accounting for 50.9% of total equity, while Fraport and China National Aviation Holding (CNAC) each invested by foreign currency cash equivalent to RMB 490 million.
The logistics unit under China West Airport Group contributed RMB 2 million. If Frankfurt airport expertise is used in the running of Xi’an airport it will become immensely efficient. Within the industry Frankfurt is acknowledged as one of the most effecient airports in the world.
Source: China Knowledge