Shanghai Yiqian Trading Company, a company whose line of business includes the wholesale distribution of a general line of groceries, is about to acquire majority stake in the German airport of Hahn located in Frankfurt.

Through the purchase, the Chinese company pretends to improve the freight and passengers flows between Germany and Asia.

Shanghai Yiqian Trading Company will acquire an 82.5 percent stake in the airport from federal state owners for amount which has not been disclosed. Additionally, the firm has also commented that they have plans to fully acquire fully the airport in the future.

Frankfurt–Hahn Airport, mainly used by Ryanair, is an international airport located 10 km from the town of Kirchberg and 20 km from the town of Simmern in the Rhein-Hunsrück district of Rhineland-Palatinate to the west of central Germany.

In the first quarter of 2016 the airport transported over half a million passengers, which is a 12 percent increase compared to the previous year. In March, almost 200,000 passengers were counted at the airport. Thus, the airport achieved an increase of 14.1 percent over the same month last year and 23 percent more than in February 2016.

According to sources, Yu Tao Chou, chairman of Shanghai Yiqian Trading, said:

"The increased air freight links from Germany would help to meet the growing demand in China for Western products such as meat, which local producers are struggling to keep up with. When it comes to freight, we expect good business from the transportation of food products to Asia."