Dublin-Based Airline Group ASL Aviation Record Loss For Last Year
According to The Irish Independent, Dublin-based airline group ASL Aviation experienced a loss of €13.1 million loss last year.
The loss reportedly followed a €5.5 million profit from the previous year.
Revenue at the company, whose chief executive is Dave Andrew, fell to €909.6 million from €1.1 billion in 2019.
The ASL accounts show that of its revenue last year, €147.5 million was generated from passenger services. That was down from €307.2 million in 2019.
Revenue from cargo services actually declined last year to €739 million from €780.6 million in 2019, despite the surge in e-commerce sales in 2020 as consumers in lockdown gravitated online.
ASL operates passenger air services from France to destinations such as Algeria, Morocco and Israel. It also operates charter flights across Europe for French, English and Spanish tour operators.
ASL's South Africa-based Safair unit operates across the globe, flying a fleet of Hercules and Boeing 737 aircraft. Its FlySafair division operates passenger services in South Africa.
ASL currently operates about 11 of its own unbranded aircraft on behalf of Amazon’s Prime Air. It also operates two aircraft for Amazon in Prime Air livery.
An additional Boeing 737 in Prime Air livery is currently in Shannon having undergone technical alterations before coming into service. It’s understood that jet will be operational from next week, with another three jets in Prime Air colours due to join the ASL fleet by the end of the year.
ASL chief financial officer Mark O'Kelly reportedly said during the summer, "While a lot of our business is cargo-focused, we have a passenger element which has been devastated."
O'Kelly reportedly added, "Unfortunately, the upside we’ve seen on the cargo has been offset by the passenger side of the business."
ASL was acquired in 2019 by European fund manager Star Capital.
The company's directors note in the 2020 accounts that last year ASL embarked on a strategic reorganisation called "Project Darwin". It reportedly aimed to facilitate a "more efficient use of resources across all airlines" in the group.
The directors note that restructuring activities will also be carried out throughout 2021.
ASL reportedly said it also agreed a global refinancing deal in 2021 that will provide funds to purchase and convert four Boeing 737-800 jets.
© 2021 Hospitality Ireland – your source for the latest industry news. Article by Conor Farrelly. Click subscribe to sign up for the Hospitality Ireland print edition.