ASL Aviation Holdings raises funds for fleet renewal

Freighter operator ASL Aviation Holdings has closed a new $155m credit facility for investment in its fleet.

ASL said it will use the funds to continue its fleet renewal programme which has so far seen the global aviation services provider agree 40 conversion slots with Boeing for the B737-800BCF.

The credit facility was arranged by Goldman Sachs and builds on an initial facility of $125m announced in April 2021 and an increase of that facility to $200m in July 2022.

ASL is now the largest operator of the B737-800BCF through ASL airlines in Ireland, Belgium and France. The 16th aircraft in ASL’s BCF programme is expected to enter service later this month.

“We are delighted with the support shown for our market plans and positioning by Goldman Sachs, a highly respected financial institution”, said Mark O’Kelly, chief financial officer at ASL.

“Their belief and support for ASL’s development and positioning as a global market leader is heartening and an indication that we are on the right track as we develop our fleet to meet customer needs, while also significantly reducing our carbon emission footprint”.

Earlier this week, ASL announced the acquisition of Australian carrier Pionair.