DUBLIN - ASL Aviation Holdings, the Dublin-headquartered aviation giant, has secured a significant financial boost with a $104.1 million loan and revolving credit facility (RCF) provided by Investec Aviation Finance. The loan is part of ASL's ambitious fleet renewal project and underscores Investec's decade-long commitment to supporting the aviation company's growth.
Investec Bank, through its aviation finance division, has structured the term loan and RCF against collateral of 18 aircraft, including ten freighters and eight-passenger planes. The cargo aircraft are integral to serving cargo integrators and e-commerce logistics, while the passenger planes are affiliated with low-cost operators like FlySafair and ASL Airlines France.
The financing actions taken this week include revising and increasing former loans, with specific aircraft such as F-HIXA at Paris Charles de Gaulle Airport slated for conversion. However, details regarding the deployment of the freighters across continents remain undisclosed.
ASL boasts an extensive aviation portfolio with an annual turnover exceeding €1.5 billion. Its operations span about 160 aircraft through entities like ASL Airlines in Ireland, Belgium, France, the UK, and the renamed Pionair Australia. The company also maintains partnerships with K-Mile Asia and Quikjet Airlines among others.
This strategic capital infusion from Investec is designed to extend ASL's debt maturity profile and provide additional resources to propel its growth trajectory. According to CEO Dave Andrew, this move comes at a time when demand within their operational scope is escalating.
Thato Matsha, Senior Associate at Investec, highlighted the long-term relationship with ASL, stating that this latest financial engagement enhances previous arrangements such as last year's $65 million loan. Matsha emphasized Investec's role in reinforcing ASL's expansionary endeavors across different market niches.
The partnership between Investec Bank and ASL Aviation Holdings continues to flourish as they collaborate on projects that drive innovation and expansion in the dynamic aviation industry.
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