- ASL Airlines Australia has faced uncertainty over its Airwork acquisition
- Receivers have confirmed a conditional agreement did not complete
- Airwork Holdings has owed $77.2m to senior lenders
- The receivers have expected the sale process to conclude by early 2027
- Airwork Flight Operations has operated nine B737-400(SF)s and one B737-800(SF)
ASL Airlines Australia has faced uncertainty over its proposed acquisition of the New Zealand and Australian freight business of Airwork Group after receivers confirmed a conditional agreement did not complete. Calibre Partners has stated in its third receivers’ report dated 7 September 2026 that the freight business sale process has remained ongoing and has continued longer than initially anticipated. The receivers have expected the sale process to conclude by early 2027.
ASL confirmed in May that it had entered into a conditional agreement to acquire Airwork’s freight operations in Australia and New Zealand. The deal has remained subject to final due diligence, standard conditions and agreement on some commercial terms. The receivers have continued to trade the freight business while seeking a buyer and have sold 10 surplus engines during the six months up to 1 July. Airwork Holdings has been in receivership since 2 July 2025 and has owed $77.2m to senior lenders as of the latest report, with interest continuing to accrue.
According to ch-aviation data, Airwork Flight Operations has held the group’s air operator’s certificate and has operated nine B737-400(SF)s and one B737-800(SF). The receivers have continued to seek a buyer for the freight business.
