ASL Aviation Holdings confirms that a transaction has been completed on the acquisition of Farnair Handling, Budapest, by airport services specialist, Menzies Aviation.
The staff and assets of Farnair Handling have been transferred to Menzies and operations will continue to serve all existing Farnair Handling customers. Founded in 2004, Farnair Handling provides complete cargo warehouse and ramp handling services at Budapest Airport. In 2016, it handled more than 19,600 tonnes of cargo on behalf of more than 12 airlines and several GSA and Road Feeder Services customers.
Farnair Handling was part of ASL’s acquisition of the Farnair Group in December 2014 and although successful and profitable, was the only handling company in ASL’s global portfolio.
Aircraft handling was a non-core business in the ASL Group with the long-term strategic approach being to concentrate on our core business as an operator of airlines, moving away from the provision of aviation support services. The financial details of the transaction will not be disclosed.