ASL Airlines Australia (PH, Sydney Bankstown) faces uncertainty over its proposed acquisition of the New Zealand and Australian freight business of Airwork Group after receivers said "a conditional agreement entered into to sell the business did not complete".

Calibre Partners said in its latest, third, receivers' report, dated September 7, 2026, that the freight business sale process remained ongoing and had "continued longer than initially anticipated". The receivers expect the sale process to conclude by early 2027.

ASL announced in May that it had entered into a conditional agreement to acquire Airwork's freight operations in Australia and New Zealand. The deal remained subject to final due diligence, standard conditions, and agreement on some commercial terms.

The receivers continue to trade the freight business while seeking a buyer and sold 10 surplus engines during the six months up to July 1. Airwork Holdings, in receivership since July 2, 2025, owed USD77.2 million to senior lenders as of the latest report, with interest continuing to accrue.

According to ch-aviation data, Airwork Flight Operations (AWK, Auckland International) holds the group's air operator's certificate (AOC) and operates nine B737-400(SF)s and one B737-800(SF).

ch-aviation has reached out to ASL Airlines Australia and Calibre Partners for comment.