Freighter operator and lessor ASL Aviation Holdings has refinanced its credit facility in order to provide enhanced financial flexibility to support its growth and strategic development.
The agreement includes a refinanced term facility size of $316m and an additional revolving credit facility (RCF).
The new facility follows on from an initial facility of $125m in April 2021, increased to $200m in July 2022 and a subsequent $155m agreement in April 2023.
“This diversification ensures greater flexibility and positions ASL to seize further opportunities in the evolving aviation sector,” ASL said in a press release.
ASL Aviation Holdings chief financial officer Mark O’Kelly said: “The belief and strong support we continue to receive from the banking markets is encouraging. It reflects the trust in ASL’s growth strategy and our role as a global leader in aviation.
"This financing will enable us to further develop our fleet, serve our customers more efficiently and continue advancing toward our goal of reducing our carbon emission footprint.”
Goldman Sachs was the sole structuring and placement agent for the refinancing.
The news follows on from a recent spate of deals for ASL. Earlier this month, Saudia Cargo announced it would add two Airbus A330-300 passenger to freighter (P2F) aircraft to its fleet under a wet lease agreement with ASL.
The Saudi Arabian freighter airline said the first aircraft in its ACMI (Aircraft, Crew, Maintenance, and Insurance) lease deal with ASL, MSN 1272, arrived at Ireland's Shannon Airport (SNN) in mid-June following P2F conversion. The second will join in the fourth quarter.
Meanwhile, in July, ASL Airlines Australia leased its second 737-800 Boeing Converted Freighter (BCF) from its parent company to operate on routes across the Tasman Sea between Australia and New Zealand.
