NetJets Europe Buys a German Airport

 - February 5, 2009, 11:15 AM

NetJets Europe has agreed to acquire Egelsbach Airport near Frankfurt, Germany’s financial center, for an undisclosed sum. The deal–subject to final approval by the local municipal authorities that own the airport company, Hessische Flugplatz GmbH Egelsbach (HFG)–is expected to be completed next month. Located 16 miles from downtown Frankfurt, Egelsbach will continue to be available to other business aircraft operators. The new owner will also honor the existing annual movements limit of 100,000. NetJets will be investing in IFR equipment, since the airport is currently approved only for VFR operations. However, it will not seek to remove the airport’s existing ban on night operations after 7 p.m. or 8 p.m., depending on the season. The fractional provider has said that its main goal is to ensure convenient access to the Frankfurt Rhein Main region since Frankfurt’s busy international hub airport is almost completely dominated by scheduled airline traffic. The terms of the acquisition specifically exclude the possibility of allowing airline operations at Egelsbach. The airport will continue to be operated by HFG, which will be directly owned by NetJets.