ASL Aviation will secure a foothold in Asia following its acquisition of Switzerland's Farnair Group in a move that will add four airlines to its business.
The deal is likely to close before the end of the year, subject to regulatory approval. The Dublin-based airline and services group would not give any indication of price yesterday.
Farnair has four airlines: Farnair in Switzerland and Hungary, Quikjet in India and K-Mile in Thailand. Quikjet and K-Mile are cargo carriers and have their own air operating certificates giving their new owner a licence to operate in their markets through those airlines.
In Europe, Farnair operates a freight service, which the Irish group said would complement its existing business.
If the deal goes through, ASL will have seven airlines. Its existing businesses are Air Contractors in the Republic, Europe Airpost in France and Safair in South Africa.
Since February, Air Contractors has been operating three transatlantic services for Aer Lingus – Shannon to New York and Boston and Dublin to Toronto – using leased Boeing 757s. The group's main business is operating freight services across Europe using a fleet of 35 ATR craft.
ASL said yesterday the addition of Farnair would bring its total fleet to more than 100 owned or operated aircraft and its workforce to more than 1,500 around the world.