After flirting with China’s airports for several years, Frankfurt airport operator Fraport has finally settled down in Xi’an, Shaanxi province, in northwest China.
Fraport Asia has acquired a 24.5″ stake in the new Xi’an Xianyang International Airport, one of the top 15 cargo airports in China and a fast-growing passenger destination, for $71.79 million. The other main partners in the venture is China West Airport Group with a 50.9% stake and China National Aviation with 24.5%.
The $293 million joint venture began operations early last month. It owns the infrastructure and associated land at Xi’an airport and is responsible for all airside facilities.