ASL Aviation Group (ASL), a provider of aviation services based in Ireland, announced that it has completed the acquisition of the Farnair Group. Farnair, based in Basel, Switzerland, operates a fleet of 20 cargo and passenger aircraft. The Farnair Group comprises four airlines: FARNAIR Switzerland and FARNAIR Hungary – both fully owned – and two joint venture operations Quikjet in India and K-Mile, in South East Asia.
As a result of the acquisition ASL will expand its presence beyond Europe and Africa and enter new and expanding markets in South East Asia and India.
Following the take-over ASL will employ over 1,500 people globally and operate a fleet of more than 100 aircraft. The consolidated annual turnover of ASL is expected to grow to more than €400m with an EBITDA of about €80m.
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