ASL Aviation Reports Profits Of €43.6m On €1.13bn Revenues

ASL Aviation Holdings, based in Ireland, has reported strong financial performance for 2021, with revenues up 24.4% over 2020. This week’s report by ASL Aviation Holdings includes results from the Group’s four European airlines in Ireland, Belgium, France, and the United Kingdom, as well as it’s associate and joint venture airlines in Thailand and South Africa.

The ASL Group reported after-tax profits of €43.6m and revenue of €1,131.5m, with cash reserves increasing 46.3% year-on-year to €193.2 million. The long-haul freight routes operated by ASL, particularly those between Europe and China, significantly contributed to the year’s good performances across all business segments.

These outcomes were attained due to ongoing fleet investments, regional development, and a marked increase in passenger demand, particularly in South Africa.

“We executed a very positive, forward-looking strategy to control costs through the Covid crisis whilst investing in aircraft and new technologies to meet the requirements of our Group and our customers to reduce and eventually eliminate carbon emissions”, said Chief Executive Dave Andrew.

“This parallel approach saw us remove operational duplication across our airlines and create centres of excellence. Simultaneously we began a major investment programme in our narrow-body fleet, including orders for up to 40 B737-800 Boeing Converted Freighters”, Dave Andrew continued.

ASL Aviation Reports Profits Of €43.6m On €1.13bn Revenues
ASL Aviation Holdings Confirms Financial Facility Extension with Goldman Sachs @ASL Aviation Holdings

ASL Aviation Holdings Provides ACMI To Global Integrators

ASL Aviation Holdings provides long-term contracts for ACMI (“wet leasing”) to worldwide integrators and postal and e-commerce companies. The long-haul cargo division of the company has traffic rights and slots at numerous strategic hubs in Asia and North America. Furthermore, the business offers passenger services in France and South Africa, where connected airline FlySafair holds more than 60% of the domestic market.

ASL’s Boeing 737 Freighter fleet is the largest in Europe, and the number of Next Generation (NG) B737-800 aircraft in the Group fleet surpassed the number of classics for the first time this summer. ASL presently operates 54 B737NG planes, which use 15% less fuel and emit 15% less pollution than its 51 Boeing 737-400 Classic planes.

“We’re very pleased with these results, which show the strength of our business model and the critical nature of the services we provide. With our ongoing investment in fleet renewal, we see significant opportunity for the continued growth of ASL with our highly valued existing and new customers”, said Chief Financial Officer Mark O’Kelly.

“I’m pleased that the Group was well-managed through a difficult time, focusing on maintaining quality and reliability on our core short-haul ACMI business while exploiting opportunities to meet growing demand in our long-haul and passenger businesses. This included launching a multi-year investment programme in our IT systems and overall group infrastructure,” Mark O’Kelly continued.

The European aviation sector’s Destination 2050 Roadmap, which aims to reduce emissions by 2030 and achieve net-zero emissions by 2050, has been endorsed by ASL. ASL Aviation Holdings invests in emerging technology, including hydrogen-powered aircraft and sustainable aviation fuels, through its environmental sustainability programme and in collaboration with customers and partners (SAF).

ASL Aviation Holdings

ASL Aviation Holdings, a global aviation services corporation, operates airlines in Europe, South Africa, and Asia and is the world leader in ACMI airline operations for significant cargo and passenger airlines.

ASL Carriers Ireland, ASL Airlines Belgium, ASL Airlines France, and ASL Airlines United Kingdom are among the six European airlines headquartered in Dublin, Ireland. ASL has joint ventures and partner airlines in South Africa, FlySafair, and Thailand, K-Mile Asia. Several leasing companies are also part of the Group. ASL Aviation Holdings provides cargo services to some of the world’s largest express parcel integrators and online retailers.

Group airlines also conduct scheduled and charter passenger services on domestic, international, and intercontinental routes across Europe, Asia, the Middle East, North America, and Africa under their airline brands.

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