Frankfurt Airport owner sells stake in China’s Xi’an Airport

BERLIN (AP) — The operator of Frankfurt Airport says it’s selling its minority stake in China’s Xi’an Airport after failing to expand its business in the huge Chinese market. Fraport said Thursday that it’s selling its 24.5% stake in the airport’s operating company to Chang’an Huitong Co. for $175 million. Its CEO said the German company “always regarded our minority stake in Xi’an as a starting point for expanding our business in China,” but that never happened at Xi’an or any other Chinese airport.