The agreement builds on ASL’s relationship with Goldman Sachs following the announcement of an initial facility of US$125million in April 2021 and an increase of that facility to US$200million in July 2022. Goldman Sachs acted as a lender on the facility.
ASL will use the funds to continue its fleet renewal programme which has so far seen the global aviation services provider agree 40 conversion slots with Boeing for the B737-800BCF (Boeing Converted Freighter).
“With the aviation industry recovering from the financial turmoil caused by the pandemic, this agreement reflects the underlying strength of ASL Aviation Holdings”, said Group Chief Financial Officer, Mark O’Kelly.
“This facility will be utilised solely for our continuing BCF programme, and the indicative rate achieved demonstrates the strong confidence in the market for our fleet renewal plans and our expansion strategy”, he said.
ASL’s original confirmation of 10 BCF slots with Boeing has now grown to 40, and ASL is now the largest operator of the B737-800BCF through ASL airlines in Ireland, Belgium and France. The 16th aircraft in ASL’s BCF programme is expected to enter service later this month.
“We are delighted with the support shown for our market plans and positioning by Goldman Sachs, a highly respected financial institution”, said Mark O’Kelly. “Their belief and support for ASL’s development and positioning as a global market leader is heartening and an indication that we are on the right track as we develop our fleet to meet customer needs, while also significantly reducing our carbon emission footprint”.
This week ASL Aviation Holdings announced the acquisition of Australian airline Pionair.
Tags: ASL Aviation Holdings DAC, Mark O’Kelly, Goldman Sachs
