Dublin aviation firm agrees to buy two airlines

A Dublin-based aviation company has confirmed the signing of an agreement which will see it acquire TNT Airways and Pan Air Líneas Aéreas from TNT Express.

The airlines, based in Belgium and Spain, will bring the number in the ASL Aviation Group to five, joining carriers including Air Contractors (based in Ireland), Europe Airpost (France), and South Africa-based Safair.

A company spokesman said: “This new acquisition reinforces the successful, strategic development of the group by external growth. ASL Aviation Group will develop TNT Airways and Pan Air Líneas Aéreas in line with its business and the airlines will continue to operate its fleets on their existing routes.

“The integration of two carriers into the group will also strengthen the company’s capabilities and ensure that it continues to provide customers with first-class and reliable professional service.”

ASL said: “This transaction represents a unique opportunity for ASL to be in a position to provide services to the major integrators and assert itself as the neutral provider of airline services to the major express integrators in Europe.”

The ASL Aviation Group, based in Dublin, is a joint venture between CMB (51%) and 3P Air Freighters (49%).

Its aviation companies comprise three airlines, two support service companies, and various leasing entities. ASL Aviation Group has a staff of 1,200 and a fleet of around 90 aircraft.

In October, ASL purchased four B737-400 freighter aircraft. Three of these will be operated by the Irish Air Contractors, which also leases ATR aircraft to Aer Arann.

© Irish Examiner Ltd. All rights reserved

More in this Section

‘Pay caps hamper recruitment’ according to Central Bank deputy governor

Eurozone's Single Resolution Fund may face month delay

Quinn Insurance collapse to cost another €912m

Women in business honoured by UCC's Alumni Achievement Awards

You might also like

Breaking Stories

More than €4bn expected to be spent on Cyber Monday

Amazon beats record sales on Black Friday

You won't believe how much cash shoppers are expected to splash by the end of Cyber Monday


BIG READ: Sexism and fear keeping women away from Hollywood's top jobs

Eat your way to an illness free winter

Butt out when Dad’s in charge and let him do it his way

5 tips for a seamless desk-to-dance floor transformation this festive season

More From The Irish Examiner