German airport of Frankfurt-Hahn goes bankrupt

Frankfurt-Hahn Airport, located 120 kilometers (75 miles) northwest of Frankfurt in the Hunsrück region of the western German state of Rhineland-Palatinate, filed for bankruptcy, Report informs, citing DW.

The former military airstrip turned commercial airport maintains a busy freight business, but it has been losing passengers since before the outbreak of the coronavirus pandemic.

The airport's biggest investor, the Chinese HNA Group, purchased 82.5% of the business from the state of Rhineland-Palatinate for €15 million ($17.5 million) in 2017. The remaining 17.5% belongs to the neighboring western German state of Hesse.