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ASL AVIATION HOLDINGS
ANNUAL REPORT2016
ASL AVIATION HOLDINGS
FINANCIAL STATEMENT2016
ASL AVIATION HOLDINGS DESIGNATED ACTIVITY COMPANY (formerly ASL Aviation Group Limited)
We are a dynamic and progressive aviation group, headquartered in Dublin, Ireland, with a global reach and operations on six continents.Our Group comprises eight leasing entities, various trading companies and nine airlines. We offer all our passenger and cargo customers worldwide an expansive offering of aviation services. We offer aircraft leasing services which are used to support our Group airlines as well as to external lessors. The strong synergies from complementary group companies enables us to be unique in our service offering.
We are committed to each individual customer and dedicated to providing them with quality services which exceed their expectations. Our wide breath of aviation services assists us in achieving our mission to be an extension of our customers and to be ‘the’ neutral service provider of choice.
CONTENTS
CHAIRMAN’S OVERVIEWReport of the Chairman 2
Operational and Financial Highlights
Financial Highlights 4
Highlights for 2016 6
Report of the Executive 8
Key Performance Metrics 10
Governance Statements and Structure
Corporate Governance 14
Corporate Social Responsibility 15
Group Ownership 16
Organisation 16
Other Information
History of the ASL Aviation Holdings Group 18
Fleet summary of owned aircraft 20
PLATFORM for Growth
8 LEASING ENTITIES
Annual Report 2016
GLOBAL VISION 1
ASL AVIATION HOLDINGS DESIGNATED ACTIVITY COMPANY (formerly ASL Aviation Group Limited)
2 Client Focused
TRADING RESULTS AND FINANCIAL STRENGTHASL Aviation Holdings Group produced a reasonable result for the year considering the continued challenging market conditions and trading environment. The ongoing consolidation of the European market continues with ASL Aviation occupying a leading position across the sector but all the while expanding both organically and externally to diversify its geographical spread.
The acquisition of ASL Airlines Belgium (formerly “TNT Airways S.A.”) and ASL Airlines Spain (formerly “Pan Air Líneas Aéreas S.A.”) (the “TNT Group”) during the year will consolidate ASL’s European position, strengthen ASL’s global reach and enhance the service offerings to both our existing and new customer base. This acquisition increases the scale of the ASL Group and importantly aligns and partners the Group closely with customers as it continues to grow and build its global network.
The Group’s cargo operations benefit from the consolidation and the integration of the TNT Group and the European operations while at the same time growing organically. The key performance metrics, as set out on page 10, continue to exceed the market expectations which is a distinguishing factor from our competitors. While the downward pressure on pricing continued across the cargo market in 2016, the Group’s scale continues to provide flexibility and adaptability to our customers and is an important contributor in further solidifying our market position.
The passenger operations of the Group continued to expand throughout the year through existing entities. The Group expanded scheduled passenger operations in Europe, operated transatlantic flights for our partners and also continued to build on a strong summer charter market customer base. While the political instability across many regions posed a number of challenges, the Group was able to maximise its position facilitated by the varied fleet types and expertise throughout the Group.
The leasing activities of the Group on the whole provide access to aircraft for the operating entities across the Group. The external leasing division of the Group remains in line with expectations.
OUTLOOKWhile 2016 was a challenging year from a profitability perspective, the year will represent a significant milestone for the Group with the acquisition of the TNT Group. The acquisition creates a large scalable operation in Europe and facilitates the ability to improve our services offering to our customers. Pricing pressures across the European market are being offset with a Group wide focus on costs and rationalisation where achievable.
While the outlook for the Group’s future continued growth remains positive, the external headwinds will remain for the foreseeable future.
FINALLYI would finally like to recognise the excellent enthusiasm and hard work of the management and employees of the ASL Aviation Holdings Group throughout the year. On behalf of the board, I would like to express our appreciation for all the success achieved throughout the year and look forward to continued success in 2017 and beyond.
Ludwig Criel Chairman
REPORT of the Chairman
Annual Report 2016
GLOBAL VISION 3
423,661TONNES OF CARGO CARRIED
ASL AVIATION HOLDINGS GROUP
ASL AVIATION HOLDINGS DESIGNATED ACTIVITY COMPANY (formerly ASL Aviation Group Limited)
4 Client Focused
2016€’000’s
% change 2015€’000’s
2014€’000’s
Revenue 738,304 95.7% 377,329 331,672
EBITDA 69,109 4.2% 66,310 56,517
EBIT 15,617 -36.5% 24,602 23,747
Net Profit 4,181 -66.9% 12,625 17,138
Total Assets 638,923 23.4% 517,746 473,833
Total Equity 221,652 5.8% 209,451 189,582
FINANCIAL highlights
€69.1mEBITDA
€738.3mREVENUE
€638.9mTOTAL ASSETS
Annual Report 2016
GLOBAL VISION 5
Client Focused6
ASL AVIATION HOLDINGS DESIGNATED ACTIVITY COMPANY (formerly ASL Aviation Group Limited)
1. ASL Airlines Ireland - one millionth passengerASL Airlines Ireland carries their one millionth passenger on a charter flight from Dublin to Salzburg.
5. Acquisition of TNT GroupOn 4 May 2016 ASL completed the acquisition of the TNT Group and welcomed ASL Airlines Belgium and ASL Airlines Spain. This increased the number of airlines in the group to eight.
9. Rio 2016Annalise Murphy, daughter of Chief Pilot, Captain Con Murphy, wins a silver medal for Ireland in sailing during the 2016 Summer Olympics. ASL marked the achievement by naming a B737-300 aircraft in her honour.
2. Extreme reliabilityASL operated at 0.00% ATR cancellations for a month of the year.
6. Quikjet received its Scheduled Air Operators PermitQuikjet India received its Scheduled Air Operators Permit on February 3rd from the Director General of Civil Aviation in India. The airline completed its maiden flight to on 16th February.
10. FlySafair wins awardFlySafair awarded the Feather Award for Best Low Cost Carrier.
3. Bravo Zulu awardASL Airlines Ireland wins the FedEx ‘Bravo Zulu’ peak performance award for their performance in 2017. This was the third consecutive year been awarded this title. 7. Jean-François Dominiak
elected President of SCARAOn April 18th Jean-François Dominiak, the Chief Executive of ASL Airlines France, was elected President of SCARA (Syndicat des Compagnies AéRiennes Autonomes).
11. Creation of ASL CAMO and ASLAIL3ASL created two new entities, ASL CAMO Limited and ASL Aircraft Investment (No.3) Limited as the group continues to expand and grow.4. ASL Airlines Hungary first
female pilotASL Airlines Hungary hired their first female to fly on a B737-400 aircraft.
8. ASL Airlines France Calvi flightOn June 17th ASL Airlines France commenced operation of a new route from Paris to Calvi.
HIGHLIGHTS For 2016
7GLOBAL VISION
Annual Report 2016
ASL AVIATION HOLDINGS DESIGNATED ACTIVITY COMPANY (formerly ASL Aviation Group Limited)
8 Client Focused
ASL Aviation Holdings Group produced a consolidated net result of €4.2m profit after tax and an EBITDA of €69.1m for the year ended 31 December 2016. While the net result has declined in the face of the challenging trading conditions particularly across the European airlines, the acquisition and integration of the TNT Group (“ASL Airlines Belgium” and “ASL Airlines Spain”) ensured that the Group EBITDA continued to grow and importantly continues to build upon the “Platform for Growth” framework being implemented across the Group. As the TNT Group is further integrated into ASL, and processes aligned, we expect further synergies and cost savings will arise through streamlining of functions and opportunities for collaboration.
The TNT Group integration remains a key focus for the Group. The acquisition has increased the number of Group airlines from seven to eight, aircraft operated to over 130 and average number of employees from 907 to more than 1,390. The revenue of the Group has increased to €738m, an increase of over 95% and is expected to further increase in 2018 when a full year of the TNT Group is included in the consolidated results. ASL Airlines Belgium and ASL Airlines Spain have performed strongly since acquisition.
The legacy European airlines endured another challenging trading year but all airlines continued to remain extremely active in each of their market segments and source opportunities for further development of their aviation offerings. The consolidation of the Group’s European airlines continues in line with the strategy to reduce the duplication of activities. ASL Airlines Ireland produced a steady performance from a financial perspective, and continued their excellent reliability of over 97% across all aircraft types which has been recognised by our customers through receipt of performance awards. The transatlantic flight operations continue to develop, which is reflected in the increase of passenger numbers for the airline to over 422,000. Other European airlines continued to perform in line with expectations.
The Leasing division continues to trade as expected with the primary focus on the internal servicing of the Group’s airline requirements. Aircraft trading activities continue to be an important part of the Group performance with two disposals carried out during the year which further supplemented the underlying operational activities. The Group established a new entity ASL Aircraft Investment (No.3) Limited in 2017, with a view to acquiring several aircraft in 2017 to increase the leasing capabilities of the Group.
The Group’s associated airline in South Africa continues to trade well. The legacy business in Safair continued to perform with demand for the Hercules aircraft remaining high. FlySafair continued its upward growth trajectory with load factors averaging over 75% and peaking at 85% in December. With the market share remaining at 13% and almost 1.7 million passengers carried, 2016 consolidated the progress made in 2015 and established FlySafair as a leading low-cost carrier of choice in the market place.
REPORT of the Executive
Annual Report 2016
GLOBAL VISION 9
Operations in India commenced in 2016 when Quikjet obtained its Air Operators Permit. The company is still in its infancy stage and looking for further opportunities to develop this business. Operations in Thailand (45% owned) continue to progress well, with three aircraft flying for DHL in the region as the infrastructure continues to develop and expand.
FLEET2016 saw a net increase of nine aircraft to the Group owned fleet. The acquisition of the TNT Group increased the fleet by eight BAe146-300’s. The Leasing division purchased two B737-400 aircraft for conversion to freighter configuration, while ASL Airlines Ireland acquired one B737-300. These additions were offset by disposals in the period.
The ASL leased-in fleet grew by 24 aircraft principally through the TNT acquisition. As part of this acquisition the Group expanded its operations into B747, B777 and a Learjet.
The increased size and mix of fleet types across the Group allows significant flexibility and also ensures the ability to buy and sell aircraft when opportunities arise.
CONCLUSION2016 was an important year for the Group and the acquisition of the TNT Group offers us many exciting opportunities for growth and development. Notwithstanding, the overall market remains challenging with the Group focussing internally to ensure optimisation of service and product offering to all our customers. The Group will continue to target cost savings across all our Group entities while remaining at the forefront of our industry as it continues to develop and evolve in the years to come.
Hugh Flynn CEO
ASL AVIATION HOLDINGS DESIGNATED ACTIVITY COMPANY (formerly ASL Aviation Group Limited)
10 Client Focused
KEY PERFORMANCE METRICS
2016 2015 2014
Number of hours flown 155,851 95,533 73,248
Passengers carried 2,744,908 1,981,871 1,297,569
Tonnes of cargo carried 423,661 200,897 162,000
Reliability 97.6% 97.7% 99.7%
*including associate and joint venture
SUBSIDIARIES
ASL Airlines (France) 2016 2015 2014
Number of hours 23,550 26,563 27,750
Number of hours cargo 8,001 8,799 8,523
Tonnes of cargo carried 44,543 52,090 46,362
Number of passenger hours 15,549 17,764 19,227
Number of passengers carried 620,562 717,818 763,930
Cargo reliability 99.23% 99.15% 99.70%
ASL Airlines (Ireland) 2016 2015
Number of aircraft
Number of hours
Reliability Number of aircraft
Number of hours
Reliability
ATR 42 7 5,126 98.90% 7 5,919 99.00%
ATR 72 17 10,035 98.60% 11 7,477 98.70%
A300 4 2,917 98.30% 2 1,429 98.00%
B737 1 1,838 99.30% 3 4,036 98.00%
B757 4 14,856 97.60% 3 12,087 97.50%
ASL Airlines (Ireland) 2016 2015 2014
Tonnes of cargo carried 108,757 72,616 88,245
Number of passengers carried 422,482 357,925 342,751
ASL Airlines (Switzerland) & ASL Airlines (Hungary) 2016 2015
Number of hours 15,290 16,609
Number of hours cargo 14,568 15,851
Tonnes of cargo carried 65,184 49,565
Number of hours passengers 722 758
Number of passengers carried 5,233 5,959
Annual Report 2016
GLOBAL VISION 11
ASL Airlines (Switzerland) & ASL Airlines (Hungary) 2016 2015
Reliability 98.35% 98.66%
Quikjet * 2016
Number of hours cargo 877
Tonnes of cargo carried 3,241
Cargo reliability 91.00%
*Operations commenced February 2016.
ASL Airlines (Belgium) ** 2016
Number of hours cargo 51,607
Tonnes of cargo carried 157,666
Cargo reliability 98.04%
ASL Airlines (Spain) ** 2016
Number of hours cargo 4,668
Tonnes of cargo carried 10,755
Cargo reliability 97.3%
**Acquired 4th May 2016
ASSOCIATE
Safair Operations 2016 2015 2014
Number of hours flown 22,318 19,434 8,152
Tonnes of cargo carried 19,139 16,760 24,145
Number of passengers carried 1,696,631 900,169 190,129
Reliability 95.75% 94.45% 82.1%
JOINT VENTURE
K-Mile 2016 2015
Number of hours 2,769 1,979
Tonnes of cargo carried 14,376 9,866
Reliability 97.00% 95.30%
Client Focused12
ASL AVIATION HOLDINGS DESIGNATED ACTIVITY COMPANY (formerly ASL Aviation Group Limited)
OUR MISSIONTo secure the sustained trust, development and growth of all the ASL Group companies by continuously exceeding our customers’ expectations
OUR VISIONTo be an extension of our customers by being the preferred neutral service provider
13GLOBAL VISION
Annual Report 2016
OUR VALUES
SAFETY PEOPLE RELIABILITY QUALITY PROFITABILITY
ASL AVIATION HOLDINGS DESIGNATED ACTIVITY COMPANY (formerly ASL Aviation Group Limited)
14 Client Focused
CORPORATE GOVERNANCE STATEMENTThe ASL Aviation Holdings Group is committed to risk management practices that assist the directors in the carrying out of their responsibilities.
BOARD OF DIRECTORSThe board is currently composed of six members and two nominated alternates. This includes one executive member and the remaining directors are representatives of the shareholders or are included by special invitation.
The Board of Directors is assisted by two special advisory board committees, an Audit Committee and a Remuneration Committee.
AUDIT COMMITTEECurrently the Audit Committee consists of four executive directors of the subsidiary companies and two directors of ASL. In 2016, the Audit Committee assisted the board of directors in order to achieve its supervision and monitoring responsibilities in the broadest sense. The audit committee meets several times a year to assess the results and financial position of the Group, the valuation of its aircraft fleet and to review the audit process and findings. The Group has retained the services of an external accounting firm which reviews and reports on internal audit matters referred to it by the Audit Committee as and when required.
Following each meeting the Chairman of the Audit Committee reports back to the Board of Directors.
REMUNERATION COMMITTEEThe Remuneration Committee currently consists of three directors of the ASL Aviation Holdings Group. The committee meets as required during the year to review and approve remuneration matters and the incentive plans of the executives and employees and to determine remuneration of the non-executive directors.
Following each meeting the Chairman of the Remuneration Committee reports back to the Board of Directors.
ASL EXECUTIVE COMMITTEEThe Chief Executive of ASL, Mr Hugh Flynn, is the Chairman of the Executive Committee which consists of key directors from the subsidiary companies. This committee meets every two weeks to consider the day-to-day activities of the companies, manage the aircraft fleet and agree on actions to implement the strategic direction of the Group.
FLIGHT SAFETY COMMITTEEDuring 2016, the Group continued to develop the activities of a Flight Safety Committee with the objective of providing oversight and co-ordination of the flight safety practices of the respective airlines. The Group is composed of key personnel involved in managing the day-to-day risks of operating aircraft. By sharing best practice methodology, the Group can maximise its commitment to maintaining safety.
RISKS AND UNCERTAINTIESIn the course of its normal business the Group is exposed to risks and uncertainties. These can be summarised in three categories:
Strategic risks:
Macro-economic environment, financial circumstances, the Group’s reputation, political and legal developments.
Operational risks:
Changes in the market conditions, counterparty credit risk, relationship with business partners, human resources, IT-infrastructure, safety of assets and data.
Financial risks:
Cash management, taxes, forecasts and budgets, correct and timely reporting, compliance with accounting rules, interest rate and exchange rate fluctuations, coverage.
The major and specific risks for each segment are as follows:
Aircraft Leasing
— significant changes in the value of aircraft. The value of aircraft is subject to variation arising from changes in aircraft technologies, evolving regulation, fuel prices and market trends;
— counterparty risk on the leasing portfolio.
Airline Activity
— decrease of the demand for passenger charter activities from travel agents;
— reputational issues from negative publicity regarding aircraft related incidents;
— risk of disruption of air traffic due to a force majeure event;
— concentration of cargo contracts with a small number of customers.
Support Businesses
— changes in the value of spares due to actions of manufacturers and changes in market conditions.
The Group has risk management processes that include assessment of these changes in risk registers that are used to identify, evaluate and initiate actions to mitigate these risks.
Apart from these specific risks the Group – in the course of its normal activities – is exposed to exchange rate and interest rate risks. The Group uses various financial instruments to cover these risks. This is explained in detail in note 27 of the consolidated accounts.
CORPORATE Governance
Annual Report 2016
GLOBAL VISION 15
SAFETYASL is fully committed to maintaining and exceeding safety standards. Across the Group, there are various accreditations over and above the required safety standards including ISO 9000 and IOSA accreditations at certain of its airlines to uphold and improve safety standards and ensure compliance with the requirements of the relevant aviation authorities.
EMISSIONS AND NOISEASL recognises that as a participant in the aviation industry it has a responsibility to minimise emissions. The Group is committed to operating aircraft in the most efficient manner possible and actively engages at all levels to minimise aircraft fuel burn through flight planning and minimising weight. Where possible the Group is modernising its fleet and replacing older types of aircraft with new more fuel-efficient aircraft. The Group’s
commitment to more fuel-efficient turboprop aircraft through its ATR fleet is further evidence of this strategy.
Since 2013, the European airlines within the Group have been participating in the European Emissions Trading Scheme and by paying for emissions have made a financial contribution in the area.
The Group also recognises that in operating into several commercial centres, particularly in Europe, it contributes to noise levels. Pilot training and reduced takeoff weights contribute towards reducing the amount of noise generated by our aircraft.
EMPLOYEE TRAINING AND RELATIONSThe Group invests significant amounts in the training of its personnel, for both front-line aircraft operations and also in its support staff. The Group has further committed to sponsor appropriate external training that contributes towards the development of its people.
The Group has a mixture of both unionised and non-unionised staff across its respective workforces. Common to both arrangements is a highly effective and complementary relationship between management and staff that acts to produce a coherent, aligned and motivated labour force.
The Group also conducts a six monthly “roadshow” at the respective business facilities to update staff on Group strategy, performance and plans.
CORPORATE Social Responsibility
ASL AVIATION HOLDINGS DESIGNATED ACTIVITY COMPANY (formerly ASL Aviation Group Limited)
16 Client Focused
ORGANISATION (AS AT 31 DECEMBER 2016)
Airlines ASL Airlines BelgiumLiège, BelgiumCargo
ASL Airlines (France)Paris, FrancePassenger and cargo
ASL Airlines (Ireland)Dublin, IrelandPassenger and cargo
ASL Airlines (Hungary)Budapest, HungaryCargo
ASL Airlines SpainMadrid, SpainCargo
ASL Airlines (Switzerland)Allschwil, SwitzerlandPassenger and cargo
Quikjet Cargo Airline*Bangalore, IndiaCargo
* Joint venture (72.48% ownership)
K-Mile*Bangkok, ThailandCargo* Joint venture
(45% ownership)
Safair Operations*Johannesburg, South AfricaPassenger, cargo and aid and relief* Associate company
(25% ownership through Safair Holdings)
Support ASL CAMODublin, IrelandAircraft software management
ACLAS GlobalSouthend-on-Sea, United Kingdom Spares provisioning
ACLAS TechnicsEdinburgh, United Kingdom Maintenance facility
ACL Aircraft TradingSouthend-on-Sea, United KingdomAviation Services
CobiiasAllschwil, SwitzerlandAviation related services
Farnair HandlingBudapest, HungaryCargo handling services
Farnair RailWeil am Rhein, GermanyCargo handling services
Farnair TrainingNeusiedl am See, AustriaAviation related services
Leasing ASL Aviation HoldingsASL Aircraft InvestmentASL Aircraft Investment (No.2)ASL Aircraft Investment (No.3)Safair Aviation IrelandSafair Lease Finance 72Dublin, IrelandLeasing
Safair Lease FinanceJohannesburg, South AfricaLeasing
OFSBHamilton, BermudaLeasing
GROUP Ownership
COMPAGNIE MARITIME BELGECompagnie Maritime Belge (CMB) is a major Belgian shipping company based in Antwerp and was founded in 1895.
51%
DEGROOF PETERCAM / 3P AIR FREIGHTERSAn aircraft leasing company incorporated in Dublin and is sponsored by Degroof Petercam Private Projects (“3P”). 3P is the Private Equity section of Degroof Petercam, a leading Brussels based independent financial Group.
49%
GLOBAL VISION 17
Annual Report 2016
ASL AVIATION HOLDINGS DESIGNATED ACTIVITY COMPANY (formerly ASL Aviation Group Limited)
18 Client Focused
The ASL Aviation Group: A PROUD HERITAGE
Hunting Group renamed company Hunting Cargo Airlines
Safair Freighters (Pty) Ltd. is renamed Safair (Pty) Ltd.
1946 1970 1972 1991 1992 1994 1998 2000 2001
South African Marine Corporation is formed
Purchased by CMB & Safair. Renamed Air Contractors
Air Bridge Carriers in the United Kingdom was formed
Safair establishes its leasing division Safair Lease Finance (Pty) Ltd.
Safmarine purchase Tropair (Pty) Ltd. and change name to Safair Freighters (Pty) Ltd.
The French postal airline L’Aeropostale is formed between La Poste and Air France
The French La Poste Group creates its own subsidiary Europe Airpost to transport its mail freight
Annual Report 2016
GLOBAL VISION 19
Purchase of BAC Group in Southend UK
Formation of ASL Aviation Group and purchase of Europe Airpost
Shareholding changed to CMB & 3P Airfreighters/ Petercam
ASL purchases Safair Operations and Safair Lease Finance
ASL acquires the Farnair Group of aviation companies
Intro of BEE and ASL now a minority shareholder of Safair Operations
ASL acquires the airline operationsof TNT Express in 2016
2007 2010 2013 2014 2016200820042002 2003
South African Marine Corporation is formed
The company’s aircraft fleet dons its new livery
Set up of the Cabin Crew Division and development of passenger transportation activities
ASL AVIATION HOLDINGS DESIGNATED ACTIVITY COMPANY (formerly ASL Aviation Group Limited)
20 Client Focused
FLEET SUMMARY of owned aircraft (AS AT 31 DECEMBER 2016)
TYPE MSN COUNTRY OF REGISTRATION YEAR OF MANUFACTURE CONFIGURATION
BOEING
B737-300 24387 France 1989 Quick Change
B737-300 24388 France 1989 Quick Change
B737-300 28898 France 1997 Quick Change
B737-300 29333 France 1998 Quick Change
B737-300 29336 France 1999 Quick Change
B737-300 24789 France 1990 Freighter
B737-300 25124 France 1991 Freighter
B737-300 29057 Ireland 1997 Passenger
B737-400 25184 Belgium 1991 Freighter
B737-400 24440 Belgium 1992 Freighter
B737-400 25181 France 1991 Freighter
B737-400 24917 Hungary 1991 Freighter
B737-400 24446 Hungary 1994 Freighter
B737-400 28494 Hungary 1996 Freighter
B737-400 25177 Ireland 1991 In conversion
B737-400 28885 Ireland 1997 In conversion
B737-400 288901 South Africa 1988 Passenger
B737-400 288911 South Africa 1988 Passenger
B737-400 25095 South Africa 1992 Passenger
B737-400 25096 South Africa 1992 Passenger
B737-400 260651 South Africa 1992 Passenger
B737-400 27143 South Africa 1993 Combi
B737-400 26961 South Africa 1993 Combi
B737-400 28492 Thailand 1996 Freighter
B737-400 29000 Thailand 1998 Freighter
B737-800 32631 South Africa 2002 Passenger
B737-800 32632 South Africa 2002 Passenger
B737-800 32633 South Africa 2002 Passenger
B737-800 32634 South Africa 2003 Passenger
B737-800 32635 South Africa 2003 Passenger
Annual Report 2016
TYPE MSN COUNTRY OF REGISTRATION YEAR OF MANUFACTURE CONFIGURATION
ATR
ATR 42-320 F 121 Ireland 1988 Freighter
ATR 42-300 F 149 Ireland 1989 Freighter
ATR 42-300 264 Switzerland 1991 Passenger
ATR 72-200 F 157 Ireland 1989 Freighter
ATR 72-200 F 183 Ireland 1990 Freighter
ATR 72-200 F 210 Ireland 1992 Freighter
ATR 72-212 F 395 Ireland 1994 Freighter
ATR 72-200 F 154 Switzerland 1989 Freighter
ATR 72-200 F 222 Switzerland 1991 Freighter
ATR 72-200 F 232 Switzerland 1991 Freighter
ATR 72-200 F 265 Switzerland 1991 Freighter
ATR 72-200 F 341 Switzerland 1992 Freighter
ATR 72-200 F 364 Switzerland 1993 Freighter
ATR 72-200 F 419 Switzerland 1994 Freighter
ATR 72-200 F 108 Ireland 1989 Freighter LCD
ATR 72-200 F 198 Ireland 1990 Freighter LCD
ATR 72-200 F 389 Ireland 1994 Freighter LCD
ATR 72-200 F 195 Switzerland 1990 Freighter LCD
ATR 72-200 F 313 Switzerland 1992 Freighter LCD
ATR 72-200 F 381 Switzerland 1993 Freighter LCD
ATR 72-500 674 Czech Republic 2001 Passenger
ATR 72-500 679 Czech Republic 2001 Passenger
ATR 72-500 681 Czech Republic 2001 Passenger
ATR 72-500 F 577 Ireland 1998 Freighter
ATR 72-500 F 583 Ireland 1999 Freighter
HERCULES
L-382 4248 South Africa 1967 Standard
L-382 4475 South Africa 1973 Standard
L-382 4562 South Africa 1974 Standard
L-382 4565 South Africa 1974 Standard
L-382 4673 South Africa 1976 Standard
L-382 4695 South Africa 1976 Standard
L-382 4799 South Africa 1978 Standard
Bae
BAe146-300QT E3153 Belgium 1989 Freighter
BAe146-300QT E3150 Belgium 1989 Freighter
BAe146-300QT E3151 Belgium 1989 Freighter
BAe146-300QT E3154 Belgium 1990 Freighter
BAe146-300QT E3166 Belgium 1990 Freighter
BAe146-300QT E3168 Belgium 1990 Freighter
BAe146-300QT E3182 Belgium 1990 Freighter
BAe146-300QT E3186 Belgium 1990 Freighter
1 Airframes owned by Safair Operations (Pty) Limited (associate)
ASL Aviation Holdings DAC
Aviation House No.3 Malahide Road Swords Co. Dublin K67 PP52 Ireland
T +353 1 892 8100 F +353 1 892 8150
[email protected] www.ASLaviationholdings.com