ASL Aviation to buy Farnair Group

ASL Aviation Group will acquire Farnair Group, a Switzerland-based third-party operator of aircraft for the express carrier industry.

   ASL Aviation Group will acquire Farnair Group, a Switzerland-based third-party operator of aircraft for the express carrier industry.
   Financial terms of the deal were not disclosed, but Antwerp, Belgium-based ASL said the acquisition should be complete before the end of the year.
   Farnair consists of four airlines – Farnair Switzerland, Farnair Hungary, Quikjet India and the joint-venture operation K-Mile in Southeast Asia. The transaction will bring the number of affiliated airlines under ASL’s wing to seven, including Air Contractors in Ireland, Europe Airpost in France, and Safair in South Africa.
   ASL said Farnair’s management will remain in place and bring the number of aircraft in ASL group’s fleet to more than 100.
   ASL is a joint venture between CMB and 3P Air Freighters.