ASL Airlines Belgium

What ASL Airlines Belgium does

ASL Airlines Belgium is a Belgian cargo airline and wholly-owned subsidiary of ASL Aviation Holdings (an Irish Designated Activity Company headquartered in Dublin). Founded in 1999 as TNT Airways and rebranded following its May 2016 acquisition by ASL Aviation Group, the airline is the largest cargo carrier in Belgium by fleet size and operational volume, operating approximately 30 Boeing 737 and Boeing 747-400ERF freighter aircraft with a workforce of over 450 employees across flight crew, ground staff, engineers, and corporate functions. Its corporate headquarters and main operational base are at Liège Airport (LGG), which serves as the FedEx-TNT Eurohub for the combined European narrowbody freighter network.

The airline generates revenue through three core service lines: contracted scheduled cargo services (primarily multi-year capacity agreements with FedEx-TNT for the European narrowbody network from the Liège Eurohub), worldwide charter operations using B747-400ERF, B747-400F, and B737 freighters, and ACMI/CMI wet-lease services providing aircraft, crew, maintenance, and insurance to other carriers. It also operates own-brand scheduled cargo flights to global destinations including China (Shanghai PVG, Jinan TNA, Hangzhou HGH, Ezhou EHU), the United States (New York JFK), South Africa (Johannesburg JNB), Kenya (Nairobi NBO), and Japan (Tokyo via a weekly charter for Japan Airlines). The company runs approximately 670 flights per week across 60 European destinations and long-haul routes, with specialized handling for sensitive goods, perishables, dangerous goods, artwork, live cargo, e-commerce, pharma, and oversized cargo. Supporting infrastructure includes online cargo tracking and FWB/FHL waybill generation tools accessible via the corporate website.

ASL Airlines Belgium is part of the wider ASL Aviation Holdings group, which operates a combined fleet of 140 aircraft across nine-plus airlines in Europe, Africa, and Asia. ASL is the world's largest operator of the B737-800BCF type and, in August 2024, became the first Belgian carrier to operate a China-to-US 'around-the-world' routing enabled by bilateral traffic rights between Belgian and Chinese civil aviation authorities. Distribution is entirely enterprise-level and relationship-driven, with no consumer-facing or self-serve channels; all sales occur through direct B2B engagements with express integrators, other airlines, freight forwarders, and direct cargo customers.

Name

ASL Airlines Belgium

Legal name

ASL Airlines Belgium

Website

https://aslairlines.be

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

251–500 employees

Short description

ASL Airlines Belgium is a Belgian cargo airline and subsidiary of ASL Aviation Holdings operating approximately 30 Boeing 737 and 747 freighters from Liège Airport, providing contracted European capacity primarily to FedEx-TNT alongside worldwide charter and ACMI services for other carriers.

Ownership category

akta.pro rank

Product category

Air Cargo Services

NAICS

Scheduled Air Transportation (48111), Nonscheduled Chartered Freight Air Transportation (481212), Nonscheduled Air Transportation (4812)

SIC

Air Transportation, Scheduled (4512), Air Transportation, Nonscheduled (4522)

akta.pro primary industry

Scheduled Air Cargo Airlines (All-Cargo Carriers) (THABAEAA)

akta.pro secondary industries

Air Freight Charter Operators (THABAEAD), General Cargo Air Freight Carriers (Scheduled & Charter) (TLADAAAA)

Keywords

• Air cargo services
• Scheduled freight operations
• Charter cargo flights
• ACMI aircraft leasing
• Express logistics solutions

Headquarters

HQ city

Hollogne

HQ country

Belgium

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Contracted Scheduled Cargo Services: Multi-year service agreements with FedEx-TNT to supply aircraft and capacity for the combined European network from the Eurohub at Liège Airport. Revenue is generated through contracted flight operations under the airline's own brand and for major express integrator customers.
2. Worldwide Charter Operations: Charter flights utilizing B747-400ERF, B747-400F, B737-400SF and B737-800BCF freighters for customers requiring ad-hoc or contract cargo capacity worldwide.
3. ACMI Services: Aircraft, Crew, Maintenance, and Insurance (ACMI) leasing services provided to other air carriers. Also offers CMI (Crew, Maintenance, Insurance) for carriers with their own aircraft requiring flexible crewing solutions.
4. Own-Brand Scheduled Cargo: Scheduled flights operated under ASL Airlines Belgium's own brand to destinations including China (Shanghai, Jinan, Hangzhou, Ezhou), the United States (New York JFK), South Africa (Johannesburg), and Kenya (Nairobi).

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

ASL Airlines Belgium is a Belgian cargo airline operating scheduled freighter services to global destinations including China, the United States, South Africa, Kenya, and Japan, along with worldwide charter operations and ACMI (Aircraft, Crew, Maintenance, Insurance) leasing for other carriers. The airline primarily serves as the dedicated capacity provider for the FedEx-TNT combined European narrowbody network from the Liège Eurohub and operates its own long-haul scheduled cargo brand.

Product overview

ASL Airlines Belgium is a cargo airline providing three core service lines: Scheduled Cargo Services (fixed-route freighter operations to global destinations with specialized cargo handling), Charter Services (worldwide ad-hoc cargo transport using owned fleet), and ACMI Services (aircraft wet-leasing with crew, maintenance, and insurance). The company operates a diverse fleet of 140+ aircraft ranging from narrowbody Boeing 737 freighters to widebody B747-400ERF aircraft, serving major express integrators like FedEx-TNT, freight forwarders, and direct customers. Additional capabilities include online cargo tracking and waybill generation tools for customer self-service.

Differentiator

Problem solved

Functional benefit

Products and services

• Scheduled Cargo Services Scheduled freighter operations serving global destinations including China (Shanghai, Jinan, Hangzhou, Ezhou), the United States (New York JFK), South Africa (Johannesburg), and Kenya (Nairobi), with specialized cargo handling for Sensitive Goods, Perishables, Dangerous Goods, Artwork, Live Cargo, E-Commerce, Pharma, and Oversized cargo.
• Charter Services

Quantifiable outcome

• Average of 670 flights per week across European and global network
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Japan AirlinescoreStrategic or Co-development Partner · 22 April 2021ASL Airlines Belgium initiates services for Japan Airlines (JAL) with a new weekly Liege-Tokyo-Liege rotation. The operation is conducted using ASL's B747-400ERF freighter aircraft.
• FedEx-TNTcoreStrategic or Co-development Partner · 1 May 2016ASL Airlines Belgium supplies the FedEx-TNT combined European network with required aircraft numbers and aircraft types to meet their ever-changing network schedule. Operations are based out of the Eurohub at Liège Airport. This is the airline's primary business activity and main revenue stream, operating under a multi-year service agreement. In addition to its own fleet, the airline manages various third-party airlines providing aircraft for this network.
• ASL Aviation HoldingscoreOthers · 1 May 2016ASL Airlines Belgium was formerly TNT Airways. The airline was acquired by ASL Aviation Holdings in May 2016 and rebranded as ASL Airlines Belgium. ASL Aviation Holdings (headquartered in Dublin, Ireland) operates a portfolio of 9+ airlines across Europe, Africa, and Asia, with a combined global fleet of 140 aircraft. The group renamed to ASL Airlines Holdings in 2017.
• Nippon Cargo AirlinesminorStrategic or Co-development PartnerASL Airlines Belgium announced an agreement with Nippon Cargo Airlines. Details of the service agreement were not fully specified in the available sources.

Scale indicators9 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• ASL Airlines France: Sister airline under ASL Aviation Holdings, formerly Europe Airpost. Operates B737 freighters and provides similar scheduled cargo, charter, and ACMI services from French and European bases with comparable customer profile.
• Western Global Airlines: US-based ACMI cargo carrier operating B737, B767, and MD-11 freighters on contract and charter work for integrators and forwarders. Comparable business model focused on outsourced freighter capacity with similar customer types.
• Cargolux: Luxembourg-based all-cargo airline operating B747 freighters on scheduled and charter services worldwide. Closest direct competitor to ASLB in European widebody cargo with overlapping long-haul Asia/Africa/US networks and integrator/forwarder customer base.
• Challenge Airlines: Belgian cargo airline (Challenge Group) operating B747 freighters and B737 classics from Liège, providing ACMI, scheduled, and charter services. Direct domestic competitor sharing the Liège ecosystem and integrator customer relationships.
• ASL Airlines Ireland: Sister airline under ASL Aviation Holdings (formerly Air Contractors). Operates B737 and ATR 72 freighters providing scheduled, charter, and ACMI services — highly comparable business model and shared group fleet resources.

Broad incumbents

• Atlas Air: US-listed ACMI and cargo operator with a much larger B747 and B777 freighter fleet serving global integrators, charters, and the US military. Overlaps with ASLB's widebody ACMI and integrator-feed model at greater scale.
• AirBridgeCargo: Russian all-cargo airline operating a large B747 freighter fleet on scheduled and charter services across Asia, Europe, and the US. Historically a direct widebody cargo competitor, though currently constrained by sanctions and airspace closures.
• Ethiopian Cargo: Africa's largest cargo carrier operating B777F and B737 freighters from Addis Ababa hub with intercontinental scheduled and charter services. Comparable long-haul freighter operator with integrator-adjacent Africa-Asia-US flows.

Emerging players

• SmartLynx Airlines: European ACMI and charter operator (Latvia-based) expanding into B737 and A321 freighters. Competes with ASLB for European narrowbody ACMI contracts and integrator wet-lease work.

Regional players

• Sun Country Airlines: US-based carrier operating B737 passenger and B737-800BCF cargo services, including Amazon Air ACMI contracts. Comparable narrowbody ACMI/cargo model, but primarily serving the US market rather than Europe.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ASLAirlinesB
• LinkedInlinkedin.com/company/asl-airlines-belgium

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ASL Airlines Belgium