Ciudad Real Central Airport, an abandoned airport in Spain which cost €1bn to build, was sold for €10,000 at a bankruptcy auction.
Tzaneen International, a Chinese-led consortium of investors, has won the airport in the auction and it was the only bidder in the auction.
Go deeper with GlobalData
In 2013, the airport was put up for auction for a price of €100m. The price was later reduced as the airport failed to attract any investor.
The sale of the airport is not certain as the receiver could still take a bid from another buyer until September this year.
The receiver had set a minimum price of €28m for the airport.
If the sale goes ahead, Tzaneen reportedly plans to invest up to €100m in the airport to make it an entry point into Europe for Chinese companies.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe airport in Ciudad Real, about 200km south of Madrid, was opened in 2008 with a capacity to handle ten million passengers per year.
With the longest runway in Europe, measuring 4,200m, the airport failed to draw enough passenger traffic and became a ‘ghost airport’.
As a result, the airport operator CR Aeropuertos went bankrupt in June 2012 with debts of around €300m.
Constructed during Spain’s building boom, Ciudad Real airport is one among several ‘ghost airports’ that failed to attract passengers.
Image: Ciudad Real Central Airport has the longest runway in Europe, measuring 4,200m. Photo: courtesy of Africa Twin / Wikipedia.
