Could Frankfurt Hahn airport make a comeback as it is sold again?

An obscure military airfield in western Germany became a torchbearer for the new breed of converted facilities used extensively by budget airlines such as Ryanair in the early 2000s. 'Low Cost Airports and Terminals' as CAPA branded them.

'Frankfurt' Hahn Airport grew rapidly to over four million passengers annually and almost 300,000 tonnes of freight, alleviating pressure on Frankfurt Airport. But that growth wasn't sustained - Fraport gave away its 65% stake and management expertise to regional government authorities for nothing, cargo volume diminished, and Ryanair fell out with the airport, shifting some services to Frankfurt.

Then Hahn was bought (in a consortium with minor German company interest) by the Chinese HNA Group, which was in deep financial trouble, and went into administration. But the COVID pandemic provided an arcane lifeline to Hahn as cargo volume grew again, followed by passenger traffic in 2022, and the prospects for both in 2023 are encouraging.

Hahn is at a turning point. Creditors are set to agree a sale but it will likely be to the investment company of a Russian oligarch with no aviation sector experience, and whose intentions for it are not known. Moreover, while he isn't 'sanctioned', he might yet be if the Ukraine war escalates further.

Big decisions have to be made by the German government, to which the matter has been referred by creditors. Hahn has a lot going for it, but only in the right hands.