Farnair Acquisition Goes Through

The ASL Aviation Group with its base in Dublin, has just announced that the planned takeover of the Swiss Farnair Group has been completed. The result is a carrier that operates 100-plus aircraft.

Paris-based Europe Airpost and their Boeing 737Fs belong to the ASL Group  /  source: ASL
Paris-based Europe Airpost and their Boeing 737Fs belong to the ASL Group / source: ASL

This takeover has been on ASL’s books for some time now and the acquisition of Farnair brings the group’s number of companies up to seven as well as giving ASL a total fleet of over 100 aircraft.
The Farnair fleet itself is made up of 20 aircraft with a mix of Boeing 737-400F‘s, ATR72-200F‘s, ATR42F‘s along with two smaller Beech1900 Freighters and two ATR-42 passenger aircraft.
The company located in Basel, is heavily into the nighttime transport of air parcels and express shipments to various European integrator hubs and also has its own training department and offers aircraft handling for other carriers as well.
Alongside their Swiss AOC, the group has a Hungarian subsidiary, Farnair Hungary, which is based in Budapest and a further two joint ventures in India as well as a 45% shareholding in K-Mile Asia, a Thai registered airline operating two B737-400F aircraft on domestic routes within the region.

Not a bad acquisition for the ASL Group
ASL Aviation Group CEO, Hugh Flynn commented “with 5 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.”

The carriers apart from Farnair Group in the ASL portfolio are:

  • Air Contractors, based in Dublin and operate throughout Europe and the Far East for large express integrators as well as using B737 and B757 aircraft on passenger services.
  • Europe Airpost, a French subsidiary which operates a fleet of B737 “quick-change aircraft” for passenger tour operators and for European post offices and integrators on nightly freight flights.
  • Safair, based in South Africa and operating a fleet of Hercules aircraft for the United Nations and most recently having launched FlySafair, a new South African low cost airline.

A mixed portfolio which seems to be making money for the Ireland-based aviation group which now employs well over 1500 staff.
Revenues in 2013 reached €325 million and showed a net profit margin of 5%.
The new acquisitions are expected to bring annual revenues of over €400 million and an EBITDA of around €60 million.

John Mc Donagh

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