European fund manager STAR Capital Partnership has completed the acquisition of global aviation group, ASL Aviation Holdings (ASL). An agreement to acquire ASL was announced in February 2019 subject to customary approvals.
Headquartered in Dublin, Ireland, ASL is a global aviation services provider with operations on six continents. The group operates 130 aircraft ranging from Boeing 747 to ATR Turbo Prop offering network solutions to express freight integrators and passenger airlines. In addition, the Group operates scheduled and charter flights under its own brands.
The Group’s multiple airlines provide ASL with wide-ranging traffic rights and valuable slots at key airports across Europe, Asia and Africa. In 2018, ASL operated over 85,000 flights, carrying over 4 million passengers and 357,000 tonnes of cargo. ASL Aviation has 3,000 employees of 51 nationalities. STAR Capital acquired ASL from Compagnie Maritime Belge (51%) and 3P Air Freighters (49%). The financial terms of the acquisition are confidential.
