Chinese Company Buys German Airport

Pang Yuliang, an entrepreneur from central China's Henan Province and chairman of the board of logistics company Linde Group, has made history by becoming the first Chinese person to acquire permanent operating rights for a European airport.

Pang's Zhengzhou-based logistics company, Linde Group, whose English name is LinkGlobal Logistics Co., will acquire Parchim Airport in northern Germany and all operational rights thereof at a cost of one billion yuan.

Linde Group will primarily fly cargo into the airport while also setting up weekly passenger charter flights.

Parchim Airport lies near the city of Schwerin in northern Germany, close to the major hubs of Hamburg and Berlin.

The purchase was confirmed by a German representative from Schwerin while at a conference in Zhengzhou that addressed economic links between Henan Province, the Nigerian capital Lagos and southern Germany.

The German representative said Pang's Linde Group, a privately-owned logistics service provider which mainly deals in air and ocean freight among other logistics services, had secured the deal after seeing off 10 other competitors in an international tender.

Linde Group signed an agreement with Parchim airport authorities in Hamburg, also notarizing the deal on May 14. The deal has seen Linde Group purchase all land and assets of Parchim airport, including all equipment and installations.

Pang revealed that his company was speaking with several Chinese and foreign airport management companies to secure management services for its newest acquisition. Pang also revealed that once management has been finalized, air cargo services will begin between Schwerin and Xinzheng airport in Zhengzhou while weekly passenger charter flights are discussed.