ASL Aviation buys Farnair of Switzerland
25 / 02 / 2015
ASL Aviation Group (ASL) has completed the acquisition of Farnair Group in Switzerland. Financial details were not disclosed.
Located in Basel, Farnair Switzerland was established 30 years ago and now operates a fleet of 20 cargo and passenger aircraft.
In addition to its Swiss Air Operators Certificates (AOCs), Farnair Group has a subsidiary, Farnair Hungary, based in Budapest and two joint venture platforms in Quikjet India as well as a 45% share in K-Mile Asia.
The acquisition increases the number of affiliate airlines owned by Dublin-based ASL Aviation Group to seven and the number of aircraft owned and/or operated in the fleet to over 100.
ASL can now use AOCs in Europe, South Africa, South East Asia and India, enabling entry into new and growing markets.
The chief executive of ASL Aviation Group, Hugh Flynn, commented: “With five airlines operating across Europe and Africa and with an airline now in each of South East Asia and India, ASL Aviation will considerably strengthen its position as the neutral provider of airline services to the major express integrators on a global scale.”
“With strong management, a constant focus on costs and a total commitment to customer service we have remained profitable and have grown throughout the last few years of recession.”
Flynn continued: “The Farnair acquisition reflects our ongoing strategy to grow both geographically and through asset procurement.”
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