ASL offloads Budapest cargo handling business
23 / 11 / 2017
ASL Aviation Holdings has sold its Budapest-based handling business to airport services firm Menzies Aviation for an undisclosed sum to concentrate on core activities.
The Dublin-based aircraft owner said the staff and assets of Farnair Handling, which provides cargo warehouse and ramp handling services at Budapest Airport, have been transferred to Menzies and operations will continue to serve all existing Farnair Handling customers.
Aircraft handling was a non-core business in the ASL Group with the long-term strategic approach being to concentrate on our core business as an operator of airlines, moving away from the provision of aviation support services.
"Farnair Handling was part of ASL’s acquisition of the Farnair Group in December 2014 and although successful and profitable, was the only handling company in ASL’s global portfolio," ASL said.
In 2016, Farnair Handling processed more than 19,600 tonnes of cargo on behalf of more than 12 airlines and several GSA and Road Feeder Services customers. It also offers security, customs agency and transportation services.
Menzies Aviation already operates ground handling and executive lounge businesses at Budapest Airport, and has made "the enrichment of its service portfolio at existing locations a key pillar of corporate strategy", it said.
Miguel Gomez, Menzies Aviation’s senior vice president – continental Europe, said: "Deepening our service portfolio is a central tenet of our approach to growing the business, and Cargo is a market in which we actively want to play a bigger part.
“We’re delighted to complete the acquisition of Farnair Handling, and to welcome its employees to the Menzies team. Together, we look forward to delivering our Cargo customers excellence, from touchdown to takeoff.”
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