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Keyword: spanishbankruptcy

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  • Chinese firm buys 'ghost airport' for cargo hub plan at shocking bargain price

    07/18/2015 7:28:01 PM PDT · by george76 · 21 replies
    Bidder offers just €10,000 for showpiece in Spanish bankruptcy auction. A Chinese company that was the only bidder for one of Spain's "ghost airports" wants to revive the site as a cargo hub for the Asian market. Ciudad Real airport, one of the most notorious emblems of Spain's economic crash, cost €1 billion (HK$8.4 billion) to build and was on sale at a knockdown price of €40 million. Tzaneen International was the sole bidder in the bankruptcy auction, however, and it offered just €10,000. The facilities of the deserted site, 160km south of Madrid, include a runway long enough to...