INTERNATIONAL airport operator Fraport has sold its 30 per cent in Flughafen Hannover-Langenhagen (FHLG), the operating company of Hannover Airport, to iCON Infrastructure Group for EUR109.2 million (US$124.6 million). Hannover saw a year-on-year two per cent decrease in cargo traffic is the first quarter of 2018, reports New York's Air Cargo World.

Fraport had initially acquired a 20 per cent stake in FHLG 1998, followed by another 10 per cent five years later.

One of six of the conglomerate's total of 12 aviation properties that saw a reduction in volume growth. Its most prominent property, Frankfurt Airport, saw a slight volume decrease of 0.1 per cent.

Its South American holdings, on the other hand, saw double-digit increases in traffic. After deduction of related income tax liabilities, Fraport said the transaction will 'have a noticeable positive impact of about EUR77 million' on the group's net profit in its 2018 financial results.