HNA Group on Tuesday formally took over the controlling ownership of Frankfurt-Hahn Airport, a crucial step for the Chinese aviation conglomerate's overseas expansion.
During a ceremony in Frankfurt, HNA executives and German officials signed the final documents for the deal, domestic civil aviation industry news outlet carnoc.com reported on Wednesday. The parties also signed a deal to further cooperate on air cargo services.
HNA won a bid to purchase an 82.5 percent stake in the airport for 15.1 million euros ($15.8 million) in March, after a plan was approved by European regulators, according to media reports.
