ASL Aviation grows financial facility as its freighter fleet renewal programme advances

By Rebecca Jeffrey

ASL Airlines Ireland B737-800BCF. Photo: ASL Aviation Holdings

ASL Aviation Holdings has completed the extension and upsizing of its existing debt facility with Goldman Sachs as it continues with its freighter fleet renewal programme.

The agreement builds on the Dublin, Ireland headquartered global aviation services group’s relationship with Goldman Sachs to increase its financial facility to $200m from the $125m announced in April 2021.

ASL Aviation Holdings chief financial officer Mark O’Kelly said: “As before the facility will be used to partially finance our fleet renewal programme, with aircraft being placed primarily in our European airlines, ASL Airlines Ireland, ASL Airlines Belgium and ASL Airlines France.”

The company also announced its latest Boeing freighter conversion aircraft is due to enter service at the end of July.

In June 2019, ASL announced 10 firm conversion slots and 10 options for the B737-800 Boeing Converted Freighter (BCF).

The 10 options were confirmed in February 2021 and in March this year ASL announced a further 10 conversion slots and 10 options.

This potentially brings the medium-haul renewal programme to 40 B737-800BCF aircraft.

The 13th aircraft of the 20 originally announced will enter service at the end of July and two more aircraft are currently undergoing conversion.

The 20th aircraft is due to enter service in early 2023 and ASL is currently sourcing aircraft for the second part of the conversion programme that will begin immediately afterwards.

“This additional facility strengthens our financial infrastructure and signals confidence in our ongoing fleet renewal programme,” said Dave Andrew, chief executive of ASL Aviation Holdings.

“The B737-800 freighter meets the requirements of our customers which is why we are already the largest operator of the B737-800BCF and of the B737-800 freighter generally.”

“These next-generation freighter aircraft reduce carbon emissions and support our environmental sustainability plans to achieve net-zero emissions in line with the European Aviation Industry’s Destination 2050 roadmap.”

ASL borrows $125m as it continues its freighter fleet renewal

ASL Aviation orders up to 20 737-800BCFs

More B737-800BCF orders as ASL expands its cargo fleet

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