TNT Express has agreed to sell airline operations, TNT Airways and Pan Air Lineas Aereas to ASL Aviation Group in the first half of 2016, as a condition of being taken over by FedEx.
ASL will take over TNT Airways and Pan Air operations from the moment the sale is completed, and is expected to maintain contracts with partner airlines, contractors and suppliers.
TNT Airways and Pan Air employees will become part of ASL Aviation Group upon completion and current terms and conditions will continue.
TNT’s Liege ‘Eurohub’ will remain the Airways hub and is not included in the airline sale. It will remain as part of the FedEx-TNT combination.
TNT chief executive officer, Tex Gunning says: “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.”
ASL Aviation Group group chief executive, Hugh Flynn says: “We are delighted to agree on this key strategic step in our growth and it underlines our commitment to be the preferred neutral aviation services provider to the intended FedEx-TNT combination once the transaction closes.”