European fund manager STAR Capital Partnership LLP has completed its acquisition of global aviation group ASL Aviation Holdings from shareholders Compagnie Maritime Belge (51%) and 3P Air Freighters (49%). The transaction, whose value was not disclosed, was first announced in February 2019 subject to customary approvals.

"We are very happy to complete this acquisition and we will immediately focus on supporting ASL in its mission to become the global aviation operator of choice, providing customers with the best possible service in all our markets,” Paul Gough, Managing Partner of STAR Capital, said. “STAR sees this as a very strong investment in an exciting aviation group with excellent prospects for growth, new opportunities and boosting revenue, profit and value."

Headquartered in Ireland, ASL operates across multiple AOCs including ASL Airlines Ireland, ASL Airlines Belgium, ASL Airlines France, ASL Airlines Hungary, and ASL Airlines Switzerland (which does not, at present, actively operate any aircraft itself anymore) in Europe. It also has stakes in Safair in South Africa and K-Mile Air in Thailand. It also operates X-air Services, a Belgium-certified Part 145 joint venture between ASL Airlines Belgium and Sabena Technics (TAT group).