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

Email Updates

Receive our lunchtime briefing straight to your inbox

More in this Section

White House hails ‘biggest tax cut’ in US history

The public sector will always be better off than the private sector

Oracle’s Irish unit in the red on higher costs

Glanbia wants ‘long Brexit transition’


Breaking Stories

Nasdaq trades at new record as US stocks flutter

Tourism industry grew 1% in first three months of 2017

Taoiseach insists US move will not force Ireland to change corporation tax rate

ECB cautious despite improvement in economic sentiment within eurozone

Lifestyle

Rag'n'Bone Man really is only Human, after all

Discover a hidden away rainforest on the Beara peninsula

Ask Audrey: 'Please have a shower, you don’t want people thinking you’re from Clonmel.'

Looking back in time with Dennis Dinneen's pictures

More From The Irish Examiner