Feb 06, 2016: TNT Express NV (hereafter TNT), one of the world’s largest express delivery companies has signed an agreement to sell its airline operations TNT Airways and Pan Air Líneas Aéreas to ASL Aviation Group, conditional on the completion of FedEx’s intended acquisition of TNT, which is expected in the first half of 2016.As part of the agreement, ASL Aviation Group will take over the flights operated by TNT Airways and Pan Air Líneas Aéreas from the moment the sale is completed. ASL Aviation Group expects the airlines will maintain contracts with partner airlines, contractors and suppliers. In conjunction with the transaction, ASL Aviation Group has entered a multi-year service agreement with TNT to operate flights for the intended FedEx-TNT combination. ASL Aviation Group will continue to serve multiple airline customers.
TNT’s Liège hub (Eurohub) is not part of the airlines sale. It will be maintained as a significant operation for the intended FedEx-TNT combination going forward.
Tex Gunning, chief executive officer, TNT, said, "I am really happy to report that great progress is being made in planning the integration of FedEx and TNT. In anticipation for closing, we had to find a new owner for TNT’s airlines to comply with aviation regulations. With ASL Aviation Group, we have found an experienced aviation group that can meet the high service standards that we have implemented at TNT over the last two years. I wish to thank all the employees of TNT Airways and Pan Air for their dedication and hard work over the years."ASL Aviation Group is an established aviation group, headquartered in Dublin, Ireland, providing aviation services globally with seven Air Operators Certificates in Europe, Africa and Asia, two support services companies and various leasing entities. It currently owns and operates a fleet of aircraft for freight and passenger transport.
Details of the transaction will not be disclosed.