ASL Aviation Holdings secures $65 million loan from Investec

ASL Aviation Holdings, a Dublin-based aviation services company, secured a $65 million loan from Investec Aviation Finance, a business unit of international bank and wealth manager Investec. The loan will repay a portion of existing debt and will also help fund ASL’s fleet renewal program.

The financing, which includes a term loan and a revolving credit facility, is secured by 17 aircraft, including 16 freighters and one passenger aircraft. ASL owns, operates or manages a fleet of approximately 130 aircraft. ch-aviation data indicates that ASL owns 24 aircraft through eight different Special Purpose Vehicles (SPVs), including one ATR72-500, two ATR72-500(F), three ATR72-200(F) and one B737-400 (C), eleven B737-400(SF), four B737-800 and B737-800(BCF). The company’s core business is to facilitate flight, crew, maintenance and insurance operations for passenger and cargo airlines worldwide. It holds stakes in ASL Airlines Belgium, ASL Airlines France, ASL Airlines Ireland, Safair, ASL Airlines Switzerland, ASL Airlines UK, ASL Airlines Hungary, K-Mile Asia and Quikjet Airlines.

Investec says the 17 aircraft used to secure the funding operate in seven different jurisdictions within the ASL Group or on lease to third-party lessees. The bank adds that the new loan is a refinancing and expansion of existing facilities between Investec and ASL, which date back a decade and previously covered 14 aircraft.

“We are delighted to continue our longstanding relationship with a facility that allows us to be flexible in meeting our growth ambitions,” said Dave Andrew, CEO of ASL.

Investec Aviation Finance says it deals in asset lending, PDP financing, ECA debt arrangement, aircraft trade and leasing, and other bespoke financing and leasing solutions related to aviation. They have been operating for over 15 years and have arranged over $10 billion in funding.

ASL declined to identify the aircraft in question when contacted by ch-aviation for further information.

About admin

Check Also

Canada Jetlines completes loan transaction

TORONTO–(BUSINESS WIRE)–Canada Jetlines Operations Ltd. (NEO: CJET) (“Airlines of Canada“or the”Company) The new all-Canadian leisure …